Adani Transmission Limited (ATL) has signed definitive agreements with Essel Infra Projects Limited (EIL) for the acquisition of Warora-Kurnool Transmission Limited (WKTL) at an enterprise valuation of ₹ 3,370 crore.
Regulatory approval has already been received by ATL from the Central Electricity Regulatory Commission for the replacement of the original awardee in the contract. ATL said in a statement, consent to the transaction and other necessary regulatory approvals will be obtained before closing the transaction.
With this acquisition, ATL’s cumulative network will reach 17,200 ckt km, of which 12,350 ckt km is already operational and 4,850 ckt km (including this property) is in various stages of execution.
Anil Sardana, MD and CEO of Adani Transmission Ltd said, “The acquisition of WKTL will strengthen ATL’s all-India presence, further strengthening its position as the largest private sector transmission company in India.”
“This strategic completion of the South 765 kV interconnector with substations in South India complements ATL’s presence in all regions of the West Country,” he said.
Warora-Kurnool Transmission Ltd will develop, operate and maintain transmission lines totaling 1,750 ckt km. The 765 kV inter-state transmission line link connects Warora-Warangal and Chilakaluripeta-Hyderabad-Kurnool with a new 765/400 kV sub-station in Warangal. The project was built through a competitive bidding process on its own, operation, maintenance basis.
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