Essar sells Mahan-Sipat transmission line to Adani for Rs 1,913 cr
Essar Power Transmission Company (EPTCL) has entered into a definitive agreement with Adani Transmission (ATL) to sell one of its two transmission lines at an enterprise valuation of Rs 1,913 crore.
EPTCL has 465-km transmission lines across three states. The asset sold by the Essar group is an operational 400 kV inter-state transmission line linking Mahan power station in Madhya Pradesh to Sipat in Chhattisgarh pooling substation. The project operates under the CERC-regulated return framework.
Adani Transmission said the acquisition would consolidate its presence in central India. “ATL is well on a path to achieve its 20,000 ckt kms target before time,” said Anil Sardana, managing director and chief executive officer of Adani Transmission.
