Adani Transmission Ltd. (ATL) has signed definitive agreements with Essel Infra Projects Ltd (EIL) for the acquisition of Warora-Kurnool Transmission Ltd. (WKTL) at an enterprise valuation of ₹3,370 crore.
The regulatory approval for substitution of original awardee in the contract by ATL has already been received from Central Electricity Regulatory Commission. The lenders’ consent and other necessary regulatory approvals shall be obtained before closure of transaction, ATL said in a statement.
With this acquisition, the cumulative network of ATL will reach 17,200 ckt km, out of which 12,350 ckt km is already operational and 4,850 ckt km (including this asset) is in various stages of execution.
Anil Sardana, MD & CEO, Adani Transmission Ltd., said, “The acquisition of WKTL will bolster ATL’s pan-India presence, consolidating further its position as the largest private sector transmission company in India.”
“This strategic West to South 765 KV interconnector with Substation in Southern India, completes ATL presence in all regions of the country,” he added.
Warora-Kurnool Transmission Ltd. will develop, operate and maintain transmission lines aggregating to 1,750 ckt km. The 765 kV inter-State transmission line links Warora–Warangal and Chilakaluripeta-Hyderabad–Kurnool with a 765/400 kV new sub-station at Warangal. The project was awarded through competitive bidding process on a build, own, operate, maintain basis.
