Adani to Acquire Alipurduar Transmission from Kalpataru Power Transmission
Adani Transmission Ltd. (ATL), one of India’s largest private sector power transmission company has signed an agreement to acquire Alipurduar Transmission Ltd. on 6th July 2020 from Kalpataru Group’s Kalpataru Power Transmission Ltd. (KPTL).
The acquisition is subject to necessary regulatory approvals and is expected to be completed in a few months. As per Adani Transmission’s press release of 6th July 2020 ‘The Enterprise value for the project is ascribed as INR 1,286 crore’.
About Alipurduar Transmission Ltd.: The company provides electricity transmission services. It operates transmission lines aggregating to 650 cKm in the states of West Bengal and Bihar. The company had successfully commissioned a transmission line from Alipurduar to Siliguri in January 2020 and a transmission line from Kishanganj to Darbhanga in March 2019.
Adani Transmission Closer to its Target
Adani Transmission (ATL) has a target of setting up 20,000 cKm of transmission lines by 2022. With this acquisition ATL will touch more than 15,400 cKm as cumulative network, out of which more than 12,200 cKm is operational and more than 3,200 cKm is under various stages of execution.
Expressing himself, Mr. Anil Sardana, MD & CEO, Adani Transmission Ltd said, “The acquisition of Alipurduar Transmission Ltd. will bolster the pan-India presence of ATL consolidating its position as the largest private-sector transmission company in India”, as reported in the above-mentioned press release.