Adani Transmission Ltd. has signed definitive agreements with Essar Power Ltd. for the acquisition of a 673 CKM operational inter-state transmission project in India owned and operated by Essar Power Transmission Ltd. The asset value for the transaction is INR19.13 billion (US$246.22 million).
The Mahan Sipat project is an operational 400 kV inter-state transmission line linking Mahan in Madhya Pradesh to Sipat pooling substation in Chhattisgarh with the length of 465 km (673 km circuit length). The project operates under the CERC regulated return framework and was commissioned on September 22, 2018.
The proposed transaction will be executed through transaction steps defined in the agreement, subject to necessary regulatory approvals and other consents.