Essar Power enters into agreement with ATL to sell transmission asset
Essar Power Limited, India’s first private sector independent power producer, has entered into a definitive agreement with Adani Transmission Limited (ATL) to sell one of its two transmission lines for Rs 1,913 crore.
Essar Power Transmission Company Limited (EPTCL) has 465-km transmission lines across three Indian states. The asset transacted is an operational 400 kV inter-state transmission line linking Mahan to Sipat pooling substation. The project operates under the CERC regulated return framework.
During the last three years, Essar Power has reduced its debt from a peak level of approximately Rs 30,000 crore to Rs 6,000 crore.
