Adani Power said on last Tuesday that it has demerged its transmission business from itself and its subsidiary, Adani Power Maharashtra, to form another wholly-owned subsidiary, Adani Transmission (India), in order to improve operational efficiency and focus on growth opportunities in the power transmission business.
The consideration for the transaction between Adani Power and Adani Transmission (India) was calculated to be Rs 168.47 crore with fair value of assets priced at Rs 4,293.61 crore. With respect to Adani Power Maharashtra, the consideration was estimated at R201.82 crore and assets were valued at Rs 665.62 crore.
Adani Power is executing four projects such as a high voltage direct current line of approximately 990 kms from its Mundra plant in Gujarat to Mohindergarh in Haryana, a 400 kv 50-km line from Mohindergarh to Power Grid of India’s Bhiwani sub-station in Haryana and another to Dhanonda in Haryana.
Adani Power Maharashtra also transferred its 218-km long transmission line stretching from its 3,300 MW Tiroda plant in Maharashtra to Warora sub-station.
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