Adani Transmission Ltd (ATL), India's largest private-sector transmission and distribution company, said on Friday it has signed definitive agreements with Essar Power to buy its Mahan-Sipat transmission line for Rs 1,913 crore.
Essar Power Limited, India’s first private sector independent power producer has entered into a definitive agreement with Adani Transmission Limited to sell one of its two transmission lines for Rs 1,913 crore. Essar Power Transmission Company Limited (EPTCL) has 465-km transmission lines across three Indian states.
The sale is a part of deleveraging strategy following which Essar has repaid over Rs 1.8 lakh crore to banks and financial institutions in the last three years - the largest debt repayment in the history, , Adani Transmission, essar power