IndiGrid to acquire power transmission firm ENCIL for Rs 1,020 crore
NEW DELHI: IndiGrid, the country’s first infrastructure investment trust in the power sector, on Wednesday announced acquisition of power transmission firm East North Interconnection Company Ltd (ENICL) for Rs 1,020 crore. ENICL is part of inter state transmission scheme network and consists of two 400 KV transmission lines with a total 900 circuit kilometers across Assam, Bihar and West Bengal, which were set up to evacuate power from north-east and eastern states to the northern region of India.
The Board of the Investment Manager of IndiGrid has approved the acquisition of ENICL at a value of Rs 1,020 crore, a company statement said.
The acquisition would increase the AUM of IndiGrid by 10 per cent to Rs 12,100 crore, it added.
