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Adani Energy Solutions (AESL) mentioned that, for an enterprise value of ₹1,900 crore, it had successfully acquired the Mahan-Sipat Transmission assets from Essar. The acquisition of shares is in accordance with definitive agreements signed in June 2022, according to a statement from the company.
After receiving all necessary regulatory and other permissions, Adani Energy Solutions Ltd. (AESL) officially purchased a 100% share in Essar Transco Limited for an enterprise value of ₹1,900 crores. The acquisition comprises of an inter-state transmission line which links Mahan, Madhya Pradesh, to the Sipat pooling substation in Chhattisgarh, covering 673 ckt kms (circuit kilometers) at 400 kV.
The project was put into operation on September 22, 2018, and it follows the Central Electricity Regulatory Commission's (CERC) regulated return framework. Adani Transmission Step Two Ltd, a wholly-owned subsidiary of Adani Energy Solutions has acquired 100 per cent stake in Essar Transco Ltd for ₹1,900 crore.
This establishes a new benchmark for AESL to raise capital and unlocks the lower-cost debt for its operational assets. MUFG Bank Ltd is the sole lender for the financing. The acquisition of the Mahan-Sipat transmission network will consolidate AESL's presence in central India with 4 operating assets having 3,373 ckt km in the region.
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