Adani Transmission Ltd (ATL), the largest private power transmission company operating in India, announced the signing of Definitive Agreement with GMR Energy Ltd to acquire 74% shares of Maru Transmission Service Company Limited (MTSCL) and 49% shares of Aravali Transmission Service Company Limited (ATSCL) with an option to acquire 100% in a manner consistent with Transmission Service Agreement and applicable consents. The Equity value for 100% stake of the both the projects is ascribed at ~Rs. 100 Cr.
Aravali Transmission Service Company Limited (ATSCL) operates 400 KV S/C Hinduan – Alwar transmission line (96 km) and 2X315 MVA, 400/220 KV grid substation at Alwar and other associated works in Rajasthan. The project was awarded on BOOM basis & commissioned in July, 2014 and since then has been in successful operation.
Maru Transmission Service Company Limited (MTSCL) operates 400 KV S/C Bikaner – Deedwana Transmission Line which is approximately 129 Km long; 400 KV S/C Ajmer– Deedwana Transmission Line of 106 Km; 220 KV D/C Sujangarh – Deedwana Transmission Line of 30 Km and 2X315 MVA, 400/220 KV grid
Both the assets are operating at an average availability of more than 99.90% since COD.
These assets were awarded through a Tariff Based Competitive Bidding Process with license period of 25 years, further extendable by 10 years. ATL is developing another transmission line from Suratgarh to Bikaner in Rajasthan, in close proximity to these assets.
Speaking on this achievement, Mr. Gautam Adani, Chairman of Adani Group, said “Adani Transmission Ltd. is foreseeing significant growth in the Transmission sector and expects to maintain its leadership position in the country. This acquisition is in sync with the long term strategy of ATL wherein, we are always looking to create value for our stakeholders.”
