Singrauli: Adani Transmission Limited has struck a deal with Essar Power, one of its transmission lines connecting Madhya Pradesh and Chhattisgarh. Adani Transmission Ltd has signed a deal to buy one of the two power transmission projects of Essar Power Ltd for Rs 1,913 crore. Essar Power is in high debt, so they have to sell the transmission line to repay the bank's debt. It is an operational 400 kV interstate transmission line that connects Mahan (Madhya Pradesh) to Sipat (Chhattisgarh).

Anil Sardana, MD and CEO of Adani Transmission Ltd, said the acquisition of Essar's assets will strengthen ATL's presence in central India. With this acquisition, ATL will meet its 20,000 CKT km target ahead of time. He said Adani Transmission Limited continues to be at the forefront of grid stability. Significantly, the project operates under the return framework regulated by the Central Electricity Regulatory Commission (CERC) and was commissioned on September 22, 2018.

ATL intends to expand the acquisition to 19,468 kilometres. operational and 4,516 CKT km is also in progress. The company believes that this acquisition can greatly benefit the company.

Essar Power, in a statement issued on Friday, outlined its plans ahead and said it has entered into a definitive agreement with Adani Transmission Ltd to sell one of its two power transmission projects for Rs 1,913 crore. He has also told in his statement that the company has reduced the debt of 30,000 crores to 6000 crores.

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