Apraava Energy acquires 49 per cent stake in KMTL

Apraava Energy has acquired a 49 per cent shareholding in Kohima Mariani Transmission Limited (KMTL) from Kalpataru Power Transmission Limited (KPTL) and Techno Electric and Engineering Company Limited (TEECL), post regulatory approvals.

The shares were acquired from KPTL (23 per cent equity stake) and TEECL (26 per cent equity stake) as per a share purchase agreement signed in July 2019. The remaining 51 per cent shareholding of KMTL willbe acquired by Apraava Energy in accordance with the termsof the transmission service agreement(TSA). KMTL is a special purpose vehicle owning an interstate transmission projectwith about 250 kilometres of 400 kV double-circuit overhead transmission linespassing throughAssam, Nagaland and Manipur, and a 400-kV gas-insulated substation positioned in Nagaland.

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