• Source:PTI
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Adani Energy Acquires Essar's Mahan-Sipat Transmission:  Adani Energy Solutions declared on Thursday that it has completed the purchase of Essar's Mahan-Sipat transmission assets for an enterprise value of Rs 1,900 crore. The share purchase is subject to binding agreements signed in June 2022, according to a company statement. Adani Energy Solutions Ltd (AESL) has acquired a 100% stake in Essar Transco Ltd for an enterprise value of Rs 1,900 crore after receiving necessary regulatory and other approvals, according to the statement.

The acquisition includes a completely functional 400 kV, 673 skt kilometer (circuit kilometer) interstate transmission line linking Mahan in Madhya Pradesh to Sipat Pooling Substation in Chhattisgarh. The project operates under the Central Electricity Regulatory Commission's (CERC) regulated return framework and was commissioned on September 22, 2018.

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Adani Transmission Step Two Ltd, a wholly owned subsidiary of Adani Energy Solutions, has acquired a 100% stake in Essar Transco Ltd for Rs 1,900 crore. This establishes a new benchmark for AESL to raise capital and unlocks low-cost credit for its operational assets.

MUFG Bank Limited is the sole lender for financing. The acquisition of Mahan-Sipat Transmission Network will strengthen AESL's presence in Central India with 4 operational assets of 3,373 kt km.

(With PTI's Input)

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