Ahmedabad : Gautam Adani controlled Adani Transmission Ltd (ATL) has completed the acquisition of 49 per cent stake in Alipurduar Transmission Limited from Kalpataru Power Transmission Ltd (KPTL). ATL will also acquire balance 51 per cent stake of KPTL after obtaining requisite regulatory and other approvals and in a manner consistent with Transmission Service Agreement.
On 5th July 2020, KPTL had signed a definitive agreement with Adani Transmission to sell its stake in Alipurduar Transmission Limited for an enterprise value of around INR 1300 Cr.
“We are now pleased to inform that on 26th November, 2020, the parties have completed the sale and transfer of 49% of the total equity shares of ATL with an agreement to sale balance 51 % after obtaining requisite regulatory and other approvals and in a manner consistent with Transmission Service Agreement” said KPTL in a regulatory filing.
With this acquisition, the cumulative network of ATL will reach more than 15,400 ckt kms, out of which more than 12,200 ckt kms (including this asset) is operational and more than 3,200 ckt kms is under various stages of execution.
Alipurduar Transmission Ltd. operates transmission lines aggregating to around 650 ckt kms in West Bengal and Bihar. The project was awarded through competitive bidding process on a build, own, operate, maintain basis. Element 1 of the project consisting of the transmission line from Alipurduar to Siliguri was commissioned on 20 Jan 2020 and Element 2 of the project consisting of the transmission line from Kishanganj to Darbhanga was commissioned on 6 Mar 2019.