scorecardresearch
Adani Transmission acquires another 25% stake in Alipurduar Transmission from Kalpataru Power Transmission

Adani Transmission acquires another 25% stake in Alipurduar Transmission from Kalpataru Power Transmission

Alipurduar Transmission was set up in 2015 as part of an inter-state transmission system to oversee the power transmission from hydroelectric power projects in Bhutan to India.

In 2020, Kalpataru Power had announced the signing of definitive agreements to sell Alipurduar Transmission to Adani Transmission for a total enterprise value of about Rs 1,286 crore In 2020, Kalpataru Power had announced the signing of definitive agreements to sell Alipurduar Transmission to Adani Transmission for a total enterprise value of about Rs 1,286 crore

Adani Transmission Limited has bought an additional stake of 25 per cent in Alipurduar Transmission from Kalpataru Power Transmission in a manner consistent with Transmission Service Agreement and applicable consents, a note shared by the company said. Alipurduar Transmission was set up in 2015 as part of an inter-state transmission system, which projected to oversee the power transmission from hydroelectric power projects in Bhutan to India. Alipurduar Transmission operates transmission lines aggregating to around 650 circuit kms in West Bengal and Bihar. 

Alipurduar Transmission was a wholly owned subsidiary of Kalpataru Power Transmission (KPTL). On 5 July 2020, Kalpataru Power announced the signing of definitive agreements to sell Alipurduar Transmission to Adani Transmission for a total enterprise value of about Rs 1,286 crore.  

The balance 26 per cent equity shares of APTL will be acquired from the Kalpataru Power Transmission Limited after obtaining requisite approvals, the company stated. The acquisition is in sync with ATL’s strategy to enhance the value for its stakeholders, through organic as well as inorganic opportunities. 

As per the company details, the Alipurduar project was awarded through a 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. 

Kalpataru Power Transmission Limited (KPTL), which was formed in 1969, is among the leading engineering, procurement, and construction (EPC) companies with proven experience and expertise spanning over three decades. KPTL has established its footprints in 63 countries spread across five continents. 

Ahmedabad-based Adani Transmission Limited (ATL) is one of the largest private sector power transmission companies in India with a presence across all the regions of India. ATL owns and operates various High voltage AC transmission lines and substations of 132kV, 220kV, 400kV, 765kV voltage levels and also High Voltage DC transmission lines and substations of +/- 500kV voltage levels. Today, ATL has a portfolio of more than 18,500 ckt km of transmission lines and around 38,600 MVA of power transformation capacity. 

Published on: Oct 13, 2022, 1:54 PM IST
Posted by: Basudha Das, Oct 13, 2022, 1:49 PM IST