New Delhi: Essar Power Ltd. on Friday said it has agreed to sell one of its two power transmission lines Adani Transmission Limited 1,913 crore for Rs.
Sales is a part of the delivering strategy followed by Essar Has paid over Rs 1.8 lakh crore to banks and financial institutions in the last three years – the largest loan repayments in history.
Essar Power in a statement said, “It has entered into a definitive agreement with Adani Transmission Ltd. will sell one of its two transmission lines for Rs 1,913 crore.
Essar Power Transmission Company Limited A unit of Essar Power (EPTCL) has 465 km of transmission lines in three Indian states. The property transacted is an operational 400 kV inter-state transmission line Connecting Mahan with Sipat Pooling Substation.
The project operates under the CERC regulated returns framework.
During the last three years, Essar Power has reduced its debt from an all-time high of Rs 30,000 crore to Rs 6,000 crore, the statement said, adding that the firm is in the process of curating a green balance sheet around renewable energy. This is in line with the Group’s strategy of investing in future-focused businesses that deliver superior return rates within the ESG framework.
Kush S, CEO, Essar Power Ltd. said, “With this transaction, Essar Power is rebalancing its power portfolio with the twin objective of de-linking its balance sheet and investing in green and renewable energy, thereby making it ESG-oriented. to propel future development.”
Essar Power has a current power generation capacity of 2,070 MW across four plants in India and Canada.
It is one of the first private sector independent power producers in India.
Meanwhile, Anil Sardana, MD & CEO, ATL, in a statement said: “The acquisition of Essar’s transmission assets will strengthen ATL’s presence in central India. With this acquisition, ATL will achieve its 20,000 ckt km target ahead of time. We continue to be at the fore of grid sustainability and provide sustainable, reliable and affordable energy solutions while creating long-term sustainable value for our stakeholders”.
With this acquisition, ATL’s cumulative network will reach 19,468 ckt km, out of which 14,952 ckt km is operational and 4,516 ckt km is under various stages of execution.
Sales is a part of the delivering strategy followed by Essar Has paid over Rs 1.8 lakh crore to banks and financial institutions in the last three years – the largest loan repayments in history.
Essar Power in a statement said, “It has entered into a definitive agreement with Adani Transmission Ltd. will sell one of its two transmission lines for Rs 1,913 crore.
Essar Power Transmission Company Limited A unit of Essar Power (EPTCL) has 465 km of transmission lines in three Indian states. The property transacted is an operational 400 kV inter-state transmission line Connecting Mahan with Sipat Pooling Substation.
The project operates under the CERC regulated returns framework.
During the last three years, Essar Power has reduced its debt from an all-time high of Rs 30,000 crore to Rs 6,000 crore, the statement said, adding that the firm is in the process of curating a green balance sheet around renewable energy. This is in line with the Group’s strategy of investing in future-focused businesses that deliver superior return rates within the ESG framework.
Kush S, CEO, Essar Power Ltd. said, “With this transaction, Essar Power is rebalancing its power portfolio with the twin objective of de-linking its balance sheet and investing in green and renewable energy, thereby making it ESG-oriented. to propel future development.”
Essar Power has a current power generation capacity of 2,070 MW across four plants in India and Canada.
It is one of the first private sector independent power producers in India.
Meanwhile, Anil Sardana, MD & CEO, ATL, in a statement said: “The acquisition of Essar’s transmission assets will strengthen ATL’s presence in central India. With this acquisition, ATL will achieve its 20,000 ckt km target ahead of time. We continue to be at the fore of grid sustainability and provide sustainable, reliable and affordable energy solutions while creating long-term sustainable value for our stakeholders”.
With this acquisition, ATL’s cumulative network will reach 19,468 ckt km, out of which 14,952 ckt km is operational and 4,516 ckt km is under various stages of execution.