Adani Transmission completes acquisition of Alipurduar Transmission

Kalpataru Power Transmission Ltd

Ahmedabad, November 27, 2020: Adani Transmission Ltd (ATL), India’s largest private sector power transmission company, has acquired 49% stake in Alipurduar Transmission Limited from Kalpataru Power Transmission Ltd. (KPTL) with agreement to acquire balance 51% after obtaining requisite regulatory and other approvals and in a manner consistent with Transmission Service Agreement. The share acquisition is pursuant to definitive agreements signed in July 2020.

The acquisition is in sync with ATL’s strategy to enhance the value for its stakeholders, through organic as well as inorganic opportunities. With this acquisition, the cumulative network of ATL will reach more than 15,400 cktkms, out of which more than 12,200 cktkms (including this asset) is operational and more than 3,200 cktkms is under various stages of execution.

Brief overview of the Asset:
Alipurduar Transmission Ltd. operates transmission lines aggregating to around 650 cktkms 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.

About Adani Transmission Limited
Adani Transmission Limited (ATL) is the transmission and distribution business arm of the Adani Group, one of India’s largest business conglomerates. ATL is the country’s largest private transmission company with a cumulative transmission network of more than 15,400 cktkms, out of which more than 12,200 cktkms is operational and more than 3,200 cktkms is at various stages of construction. ATL also operates a distribution business serving about 3 million+ customers in Mumbai. With India’s energy requirement set to quadruple in coming years, ATL is fully geared to create a strong and reliable power transmission network and work actively towards serving retail customers and achieving ‘Power for All’ by 2022.

About Neel Achary 19199 Articles
Neel Achary is the editor of Business News This Week. He has been covering all the business stories, economy, and corporate stories.