Adani Energy Solutions (AESL) on Thursday announced acquisition of a special purpose vehicle (SPV) Mahan Transmission (MTL). The company on March 26 executed a share purchase agreement with REC Power Development and Consultancy for acquisition of 100% stake in Mahan Transmission.
The project will evacuate 1,230 MW power from Adani Power’s upcoming 1,600 MW expansion units at Mahan in Singrauli district in Madhya Pradesh. MTL is a Rs 2,200 crore intra-state transmission project.
The project involves setting up of 2,800 Mega Volt-Amperes (MVA) of substations capacity and 740 circuit kilometers (ckm) of transmission line, taking AESL’s transmission network to 26,668 ckm and 89,986 MVA of transformation capacity. The project will be delivered by April 2027.
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“This acquisition is proposed to further AESL’s strategy for enhancing value for its shareholders through organic as well as inorganic opportunities,” AESL said in an exchange filing.
AESL won the project under the Tariff Based Competitive Bidding (TBCB) mechanism, and REC Power Development and Consultancy was the bid process coordinator. This is AESL’s seventh order win this fiscal year, taking its transmission orderbook to Rs 59,761 crore.
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