Essel Infra sells two power assets to Edelweiss arm
MUMBAI: The Subhash Chandra-led Essel group has sold the two transmission assets owned by Essel Infraprojects, Darbhanga-Motihari Transmission Ltd and NRSS XXXI (B) Transmission Ltd, to a fund managed by Edelweiss, said two people aware of the development, requesting anonymity.
The development could provide some respite to Essel and its lenders.
Essel had entered into an agreement to sell the two assets to Sekura Energy Ltd, a company owned by Edelweiss Infrastructure Yield Plus fund, in October 2018. The agreement also gave Edelweiss the right to purchase two other transmission assets owned by Essel—Warora-Kurnool Transmission Ltd and NRSS XXXVI Transmission Ltd, which are expected to be commissioned this financial year.
