Adani Transmission, India’s largest private transmission company, has signed definitive agreements to purchase the wholly-owned subsidiary of Kalpataru Power Transmission Ltd. (KPTL) in a deal valued at Rs 1,286 crore ($169.6 million).
Known as Alipurduar Transmission Ltd. (ATL), the subsidiary was established as part of an inter-state transmission system for strengthening and transferring of power from new hydroelectric power projects in Bhutan to India, according to a statement from KPTL.
It won the project on a “build-own-operate-maintain” basis through a competitive bidding process from REC Transmission Projects Company Ltd. The project involved the design, financing, construction, commissioning, operation and maintenance of 325 kilometers (201 miles) of a 400-kilovolt transmission line for a period of 35 years.
In fiscal year 2020, ATL generated revenue of Rs 90.36 crore ($11.9 million) and had a net worth of Rs 170.20 crore ($22.4 million), represent
