Indi Grid to buy Khargone Transmission for ₹1497cr: India Grid Trust (IndiGrid) will acquire a 100% equity stake in Khargone Transmission at an enterprise value of around ₹1,497.5 crores. The acquisition will be for a cash consideration of an enterprise value not exceeding ₹1,497.5Cr, according to a BSE filing.
Agreement signed: IndiGrid signed a share purchase agreement on Jan 21, 2023, for the acquisition of a 100% shareholding and economic interest, in one or more tranches, in Khargone Transmission Ltd from Sterlite Power Transmission Ltd (one of the Sponsor of IndiGrid), it stated.
January 2023 Current Affairs Quiz
Approvals and consent awaited: The completion of the acquisition would depend upon receipt of Unitholders’’ consent, regulatory and other relevant approvals as well as completion of contractual obligations, it explained. Khargone Transmission was incorporated on November 28, 2015.
The transmission project was awarded by the ministry of power for a 35-year period from the scheduled commercial operation date on a build, own, operate, and maintain (BOOM) basis.
Six elements: The project has 6 elements. The project has one substation element, three transmission line elements, one LILO element and one line bay. Maharashtra and Madhya Pradesh are the locations of the project.
Project to improve power supply: The goal of the project was to deliver 1320 MW of thermal energy from the Khargone power plant to users in the home, commercial, agricultural, and industrial segments in the states of Madhya Pradesh and Maharashtra, improving electricity supply and grid stability.
