Saturday, August 13, 2022

Adani Transmission signs SPA with RECPDCL for acquisition of MPPTPL

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  • With this acquisition, the cumulative transmission network of Adani Transmission will reach more than 18,300 ckt kms of transmission line
  • MPPTPL consists of more than 1,000 ckt kms of Transmission Lines & Air Insulated Substations of various voltage levels in 18 districts of Madhya Pradesh

New Delhi: Adani Transmission Ltd (ATL) has signed a share purchase agreement (SPA) with REC Power Development and Consultancy Limited (RECPDCL) for the acquisition of its entire stake in MP Power Transmission Package-II Limited (MPPTPL). In a regulatory filing to the stock exchanges on Monday, Adani Transmission said, “The Company has entered into a Share Purchase Agreement with REC Power Development and Consultancy Limited (formerly known as REC Power Distribution Company Limited) on 1st November 2021 to acquire its entire stake of Equity Shares representing 100% of the total issued. paid-up and subscribed Equity Share Capital in MPPTPL.” 

MPPTPL acquisition will grow ATL’s network to 18,300 ckt kms

Commenting on the acquisition of MPPTPL, Adani Transmission said, “This acquisition is in sync with the Company’s strategy to enhance the value for its stakeholders through organic as well as inorganic opportunities.”

“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,” said Adani Transmission.

MPPTPL covers 18 districts of MP

The project, ‘MP Power Transmission Package-II Limited,’ consists of more than 1,000 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, Adani Transmission’s execution of the project will strengthen the transmission system in Eastern Madhya Pradesh,” said Adani Transmission.

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