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CLP India inks pact with KPTL for three power transmission assets

Thursday, 04 Jul 2019
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CLP India has entered into a binding agreement with Kalpataru Power Transmission (KPTL) and Techno Electric & Engineering Company (Techno).

The agreements are to purchase equity stake in three SPVs owning power transmission assets for an estimated enterprise value of Rs 32 billion.

CLP India has acquired the following transmission assets of Kalpataru Satpura Transco located in Madhya Pradesh (240 km), Alipurduar Transmission (ATL) in West Bengal (324 km) and Kohima Mariani Transmission (KMTL) in Manipur-Nagaland-Assam (251 km).

The estimated amount of debt at the SPVs levels will be approximately Rs 20 billion at the time of commercial operation date (COD). The transaction marks CLP India’s entry into the power transmission sector. As part of this deal, the transaction for ATL and KMTL will be effective post COD and fulfilment of due diligence on the elements that are yet to be commissioned.

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