Kalpataru Power Transmission has signed an agreement with Adani Transmission to sell Alipurduar Transmission Limited to the latter for a total enterprise value of Rs.1286 crore. Alipurduar Transmission was set up as part of an inter-state transmission system to strengthen and transfer power from hydroelectric power projects in Bhutan to India.

The end-to-end project specifications entailed design, financing, construction, commissioning, operation and maintenance of 325 km of 400 KV transmission line. The project was on a build-own-operate-manage via competitive bidding from REC Transmission for a period of 35 years. Alipurduar Transmission is a 100% subsidiary of KPTL.

As part of its growth strategy, Kalpataru is looking to hive off its transmission and distribution assets including ATL, Kohima and Jhajjar transmission assets. The target for Kalpataru is to complete the sale and transfer of all remaining T&D assets in the fiscal year 2020-21 itself. The sale of T&D will accelerate Kapataru’s growth strategy.