CLP Group in ₹3,200-cr deal with Kalpataru Power, Techno Electric
Hong Kong-based CLP Group’s India venture has signed a ₹3,200-crore deal with Kalpataru Power Transmission Ltd (KPTL) and Techno Electric & Engineering Co Ltd to acquire stakes in three power transmission assets.
KPTL will sell off its power assets, held through three special purpose vehicles. They include Kalpataru Satpura Transco Private Ltd, Alipurduar Transmission Ltd and Kohima Mariani Transmission Ltd. Techno Electric & Engineering Company Ltd owns a 26 per cent stake in the Kohima project.
KPTL is a diversified Mumbai-based firm that has interests ranging from real estate to power, civil infrastructure and logistics. Manish Mohnot, Managing Director & CEO, KPTL, said the sale of the assets would lead to a significant reduction in KPTL’s consolidated debt and help focus on strategic diversification within its core business. KPTL will continue to focus on sustainable and profitable growth with a commitment to improve return ratios.
