Adani Transmission to acquire entire stake in Bikaner Khetri Transmission
Ahmedabad (Gujarat) [India], Sept 20 (ANI): Adani Transmission Ltd (ATL) has signed a share purchase agreement with PFC Consulting Ltd for the acquisition of its entire stake in Bikaner Khetri Transmission Ltd (BKTL).
ANI
Sep 20, 2019 13:17 IST
Ahmedabad (Gujarat) [India], Sept 20 (ANI): Adani Transmission Ltd (ATL) has signed a share purchase agreement with PFC Consulting Ltd for the acquisition of its entire stake in Bikaner Khetri Transmission Ltd (BKTL).
The BKTL project consists of about 480 circuit km of 765 kilovolt line along with associated transmission system. It is being constructed to establish transmission system associated with long-term applications from Rajasthan Solar Energy Zone Part D.
ATL had won this project through a tariff-based competitive bidding process and received the letter of intent in July. It will build, own, operate and maintain the transmission project in Rajasthan for a period of 35 years.
With this project, the cumulative transmission network of ATL will reach 14,042 circuit km of transmission line and 23,280 mega volt amp (MVA) transformation capacity of which about 11,477 circuit km and 18,330 MVA are under steady-state operation.
ATL also operates a distribution business serving about 30 lakh customers in Mumbai.
"The acquisition of this special purpose vehicle will not only help the company consolidate its position as the largest private sector transmission company operating in India but also allow it to contribute towards sustainable development of renewable energy infrastructure development in the country," it said in a statement. (ANI)
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