Adani Transmission to acquire Mahan-Sipat transmission project from Essar

Adani Transmission Ltd. (ATL) has signed a deal worth INR 1,913 crores with Essar Power Ltd. (EPL) to acquire the Mahan-Sipat transmission project, a 673km long operational inter-state connector between Madhya Pradesh and Chhattisgarh.

The 400kV Mahan-Sipat transmission line is owned by Essar Power’s subsidiary — Essar Power Transmission. It is laid between Mahan in Madhya Pradesh and the Sipat pooling substation in Chhattisgarh.

Adani Transmission to acquire Mahan-Sipat transmission project from Essar Power for Rs 1,913cr. Photo courtesy of Pexels from Pixabay.

Adani Transmission CEO comments on the Mahan-Sipat transmission project

Anil Sardana — Adani Transmission MD and CEO said: “The acquisition of Essar’s transmission asset will consolidate ATL’s presence in central India. With this acquisition, ATL is well on path to achieve its 20,000 ckt kms target before time.

“We continue to remain at the forefront of grid stability and provide sustainable, reliable, and affordable energy solutions while creating long term sustainable value for our stakeholders.”

The Mahan-Sipat transmission project, which is operated under the CERC regulated return framework, began operations in September 2018.

Adani Transmission said the acquisition of the transmission project in Central India aligns with its value added growth strategy by tapping both organic and inorganic growth opportunities.

The proposed acquisition of the Mahan-Sipat transmission project will be carried out via transaction steps, which will be subject
to the required regulatory approvals and other consents, said Adani Transmission.