Essar Power Limited, has entered into a definitive agreement with Adani Transmission Limited to sell one of its two transmission lines for Rs 1,913 crore, an official release said on Friday. The asset transacted is an operational 400 kV inter-state transmission line linking Mahan in Madhya Pradesh to Sipat pooling substation in Chhattisgarh. The project operates under the Central Electricity Regulatory Commission (CERC) regulated return framework, the release added. Essar Power Transmission Company Limited (EPTCL) has 465-km transmission lines across three Indian states. In the last three years the conglomerate has reduced its debt from a peak of approximately Rs 30,000 crore to Rs 6,000 crore. Kush S, CEO, Essar Power Ltd said, “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 ESG-oriented future growth. Essar Power has a current power generating capacity of 2,070 MW across four plants in India and Canada.”
