Adani Transmission acquires Alipurduar Transmission for Rs 1,300 Cr

Private sector power transmission company Adani Transmission Ltd (ATL) has acquired 49% stake in Alipurduar Transmission Limited from Kalpataru Power Transmission Ltd. (KPTL) with agreement to acquire balance 51% after obtaining requisite regulatory and other approvals and in a manner consistent with Transmission Service Agreement. 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 cktkms, out of which more than 12,200 cktkms (including this asset) is operational and more than 3,200 cktkms is under various stages of execution,” ATL said issuing a statement.

Alipurduar Transmission Ltd. operates transmission lines aggregating to around 650 cktkms in West Bengal and Bihar. The project was awarded through competitive bidding process on a build, own, operate, maintain basis. Element 1 of the project consisting of the transmission line from Alipurduar to Siliguri was commissioned on 20 Jan 2020 and Element 2 of the project consisting of the transmission line from Kishanganj to Darbhanga was commissioned on 6 Mar 2019.