Apraava Energy has acquired 49 per cent shareholding in Kohima Mariani Transmission Ltd. (KMTL) after receiving requisite regulatory approvals, a release from Apraava Energy said.
KMTL is the owner of an interstate transmission project in north-eastern India, comprising 400kV transmission lines and a 400kV gas insulated substation..
The shares were acquired from Kalpataru Power Transmission Ltd (23 per cent equity stake) and Techno Electric & Engineering Company Ltd. (26 per cent equity stake) as per a share purchase agreement signed with the two parties in July 2019. The remaining 51 per cent shareholding of KMTL will be acquired by Apraava Energy in accordance with the terms of the Transmission Service Agreement (TSA).
Low-carbon business strategy
Rajiv Ranjan Mishra, Managing Director, Apraava Energy, said, “KMTL is an important asset supporting reliable power supply to northeastern India, spurring economic development in the region, and helping to make power available to all. We would like to thank Governments – both Central and State for their support through the acquisition process. We welcome KMTL into the Apraava Energy family as we work towards realizing our vision of becoming a sustainable end-to-end power utility. In line with our strategy and India’s environmental priorities, we will continue to pursue a low carbon business strategy and invest in enhancing our clean energy portfolio.”
The transmission scheme developed by Kohima Mariani Transmission Ltd is officially termed as “North Eastern System Strengthening Scheme (NERSS) – VI”
Portfolio expansion
Naveen Munjal, Director – Business Development & Commercial (Conventional), Apraava Energy, added, “The transmission sector is key to India’s vision of Power for All. Our aim is to strengthen India’s grid by investing in high-quality transmission projects like KMTL that will benefit the country. Going forward, we will look at expanding our transmission portfolio across the country with the addition ofsuperior assets that will secure the energy future of India.”
Passing through three NE states
KMTL is an SPV owning an interstate transmission project withabout 250 kilometres of 400 kV double circuit overhead transmission lines passing through the states of Assam, Nagaland, and Manipur, and one 400kV substation located in the state of Nagaland. The project was awarded by PFC Consulting Ltd, the bid process coordinator, through the tariff-based competitive bidding (TBCB) process. Previously, KMTL was owned jointly by Kalpataru Power Transmission Ltd (74 per cent equity stake) and Techno Electric and Engineering Company Ltd. (26 per cent). The project commenced commercial operations in December 2020. [Click here for more details]
Foray in power transmission
Apraava Energy (formerly CLP India) entered the power transmission sector in November 2019 by acquiring 100 per cent stake in Satpura Transco Pvt Ltd, which owns an intrastate project in Madhya Pradesh.
Featured photograph (source: Tata Power) is for representation only
