Adani Transmission Ltd has acquired 49 per cent stake in Alipurduar Transmission Ltd from Kalpataru Power Transmission Ltd (KPTL).
ATL has also entered into an agreement to acquire balance 51 per cent after obtaining requisite regulatory and other approvals and in a manner consistent with Transmission Service Agreement. The share acquisition is pursuant to definitive agreements signed in July 2020.
The acquisition is in line with ATL’s strategy to enhance the value for its stakeholders, through organic as well as inorganic opportunities, a release from ATL said.
With this acquisition, the cumulative network of ATL will reach more than 15,400 ckm, out of which more than 12,200 ckm (including this asset) is operational and more than 3,200 ckm is under various stages of execution.
On its part, Kalpataru Power Transmission Ltd, in a stock exchange communicated, also said that on November 26, 2020, the parties (KPTL and Adani Transmission Ltd) have completed the sale and transfer of around 49 per cent of the total equity shares of Alipurduar Transmission Ltd with an agreement to sale balance 51 per cent after obtaining requisite regulatory and other approvals and in a manner consistent with Transmission Service Agreement.
Straddling two states
Alipurduar Transmission Ltd operates transmission lines aggregating to around 650 ckm in West Bengal and Bihar. The project was awarded through competitive bidding process on a build, own, operate, maintain (BOOM) basis. Element-1 of the project consisting of the 400kV transmission line from Alipurduar to Siliguri was commissioned on January 20, 2020 while Element-2 of the project, comprising the 400kV transmission line from Kishanganj to Darbhanga was commissioned earlier on March 6, 2019.
KPTL had acquired the project special purpose vehicle (SPV) from nodal agency REC on January 6, 2016.
Helping evacuation from Bhutan
Alipurduar Transmission Ltd will play an important role in power evacuation from hydropower-rich Bhutan. Here is how.
Punatsangchhu-I (1,200 mw), Punatsangchhu-II (990 mw), Mangdechhu(720 mw) and Wangchhu (570 mw) hydropower projects in Bhutan are at various stages of development. Power from these generation projects would be transferred to India after meeting small local demand in Bhutan.
Power from above generation projects is proposed to be brought to Alipurduar substation in West Bengal. Power transfer from Alipurduar onwards will be done by the two elements (discussed above) of the Alipurduar transmission line.
Another transmission line that will be involved in transferring power from Alipurduar is the 800kV Bishwanath Chariyal (Assam) – Alipurduar (West Bengal) – Agra (Uttar Pradesh) HVDC bipole link.
Featured photograph sourced from adb.org is for illustration only
