The company said in a statement the acquisition is in sync with ATL’s strategy to enhance the value for its stakeholders, through organic as well as inorganic opportunities. The share acquisition is pursuant to definitive agreements signed in July 2020.
“With this acquisition, the cumulative network of ATL will reach more than 15,400 circuit kilometers (ckt), out of which more than 12,200 ckt kms (including this asset) is operational and more than 3,200 ckt kms is under various stages of execution,” the statement said.
Adani Transmission is the transmission and distribution business arm of the Adani Group. ATL is the country’s largest private power transmission company with a network of more than 15,400 circuit kilometers.