Essar Power enters into agreement with Adani Transmission to sell transmission asset

Essar Power Limited has entered into a definitive agreement with Adani Transmission Limited (ATL) to sell one of its two transmission lines for Rs 19.13 billion.

Essar Power Transmission Company Limited (EPTCL) has 465-km transmission lines across three Indian states. The asset transacted is an operational 400 kV inter-state transmission line linking Mahan to Sipat pooling substation. The project operates under the Central Electricity Regulatory Commission (CERC) regulated return framework. With this transaction, Essar Power is rebalancing its power portfolio with the twin objective of deleveraging its balance sheets and investing in green and renewable power, thereby furthering its environment social and governance-oriented future growth.