Adani Transmission (ATL) is in pact with Essel InfraProjects (EIL) to acquire the Warora-Kurnool Transmission (WKTL) in a deal that pegs the enterprise value at Rs 3,370 crore, the billionaire Gautam Adani-led company said on Saturday.
With this acquisition, ATL’s total portfolio will be at 17,200 circuit km (ckt km), out of which around 12,350 ckt km is operational and 4,850 ckt km is in various stages of execution.
“This strategic West to South 765 KV interconnector with Substation in Southern India, completes ATL presence in all regions of the country. This asset will not only increase ATL’s size and scale but will also take ATL closer to its target of setting up 20,000 ckt km of transmission lines by 2022,” said Anil Sardana, managing director and chief executive officer of ATL.
ATL said it has already received approval for substitution of original awardee in the contract from the Central Electricity Regulatory Commission and will obtain the lenders consent and other necessary regulatory approvals before the closure of the transaction.
Warora-Kurnool Transmission will develop, operate and maintain transmission lines aggregating to around 1,750 ckt km.