ATL to acquire Warora-Kurnool Transmission for over `3.3K cr

New Delhi: Adani Transmission Ltd on Saturday said it has entered into a pact with Essel Infraprojects to acquire Warora-Kurnool Transmission Ltd (WKTL) for an enterprise value of Rs 3,370 crore.

The acquisition is in sync with Adani Transmission's strategy to enhance the value for its stakeholders, through organic as well as inorganic opportunities, Adani Transmission Ltd said in a statement.

ATL, India's largest private sector power transmission and retail distribution company, has signed definitive agreements with Essel Infraprojects Limited (EIL) for the acquisition, it said.

The regulatory approval for substitution of original awardee in the contract by ATL has already been received from the Central Electricity Regulatory Commission.

The lenders consent and other necessary regulatory approvals shall be obtained before closure of transaction, the company said.

With this acquisition, which is valued at an enterprise value of Rs 3,370 crore, the cumulative network of ATL will reach 17,200 ckt km (circuit kilometres), out of which 12,350 ckt km is already operational and 4,850 ckt km (including this asset) is in various stages of

execution.

With this enhanced scale of operations, Adani Transmission Ltd will enjoy substantial benefits in terms of cost optimisation and shared resources and will also fortify its position of being the largest private sector transmission

company in the country, the statement said.

Anil Sardana, MD and 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 Adani Transmission Ltdpresence in all regions of the

country."