NEW DELHI: Essar Power Ltd on Friday said it has agreed to sell one of its two electricity transmission lines to Adani Transmission Ltd for Rs 1,913 crore.
The sale is a part of deleveraging strategy following which Essar has repaid over Rs 1.8 lakh crore to banks and financial institutions in the last three years – the largest debt repayment in the history.
In a statement, Essar Power said it “has entered into a definitive agreement with Adani Transmission Ltd to sell one of its two transmission lines for Rs 1,913 crore”.
Essar Power Transmission Company Ltd (EPTCL), a unit of Essar Power, has 465-km transmission lines across three Indian states. The asset transacted is an operational 400 kV inter-state transmission line linking Mahan to the Sipat pooling substation.
