Adani Transmission (ATL), a power transmission company, has acquired 49 percent stake in Alipurduar Transmission from Kalpataru Power Transmission (KPTL) with agreement to acquire balance 51 percent after obtaining requisite regulatory and other approvals in a manner consistent with the Transmission Service Agreement.
ATL has completed the acquisition for an enterprise value of around Rs 1,300 crore. 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 ckt km, out of which more than 12,200 ckt km (including this asset) is operational and over 3,200 ckt km is under various stages of execution.
Alipurduar Transmission operates transmission lines aggregating to around 650 ckt km in West Bengal and Bihar. The project was awarded through competitive bidding process on a build, own, operate and maintain basis.
Element-1 of the project consisting of the transmission line from Alipurduar to Siliguri was commissioned on 20 January 2020 and Element-2 of the project consisting of the transmission line from Kishanganj to Darbhanga was commissioned on 6 March 2019.