Team News Riveting
Raipur, November 1
Adani Transmission Limited (ATL), an arm of Adani Group, has acquired the MP Power Transmission Package-II Limited (MPPTPL) to strengthen its network in Madhya Pradesh.
“We would like to inform that the Company has signed Share Purchase Agreement with REC Power Development and Consultancy Limited (formerly known as REC Power Distribution Company Limited) on 1st November 2021 for acquisition of its entire stake in MP Power Transmission Package-II Limited (MPPTPL),” the ATL said in a regulatory filing today.
The project, ‘MP Power Transmission Package-II Limited’, consists of more than 1000 ckt kms of Transmission Lines & Air Insulated Substations of various voltage levels (220kV and 132kV) in 18 Districts of Madhya Pradesh. With a capex of Rs.1,200 crore, ATL’s execution of the project will strengthen the transmission system in Eastern Madhya Pradesh.
With this acquisition, the cumulative transmission network of ATL will reach more than 18,300 ckt kms of transmission line and more than 33.100 MVA transformation capacity, out of which more than 13,000 ckt kms and more than 18.400 MVA are under steady-state operation. ATL also operates a distribution business serving about 3 million customers in Mumbai.
