In a bid to unlock capital and pare debt, Kalpataru Power Transmission (KPTL) announced on Wednesday it had entered into binding agreements with CLP India to sell stake in three of its power transmission assets — Kalpataru Satpura Transco (KSTPL), Alipurduar Transmission (ATL) and Kohima Mariani Transmission (KMTL) — for an estimated enterprise value of Rs 3,275 crore.
This transaction marks the entry of CLP India into the power transmission business. CLP India is owned by the Hong Kong-based CLP Group and Caisse de dépôt et placement du Québec (CDPQ), one of Canada’s leading institutional fund managers. Commenting on the deal, CLP India managing director Rajiv Mishra said: “India is a primary growth market for CLP and CDPQ, and the two companies share a vision to invest in a low-carbon, clean energy portfolio in India. The acquisition of the KPTL assets will enable us to expand our geographical reach across the country and reinforce our commitment to grow our investments.”
