Tuesday , November 12 2019
Home / BUSINESS / EQUITIES / Adani Transmission to acquire stake in WRSSTL

Adani Transmission to acquire stake in WRSSTL

Adani Transmission has signed share purchase agreement with REC Transmission Projects Company on October 14, 2019 for acquisition of its entire stake in WRSS XXI (A) Transco (WRSSTL). This is acquisition is in sync with the Company’s strategy to enhance the value for its stakeholders through organic as well as inorganic opportunities.

With this acquisition, the cumulative transmission network of the company will reach more than 14,000 ckt kms of transmission line and more than 23,000 MVA transformation capacity, out of which more than 11,000 ckt kms and more than 18,000 MVA are under steady-state operation. The company also operates a distribution business serving about 3 million customers in Mumbai.

Adani Transmission is a holding company. The company operates as a power transmission company. It is engaged in transmission of electric energy and trading of castor oil.