India Grid Trust acquires 74% stake in Jhajjar KT Transco

India Grid Trust on behalf of Sterlite Investment Managers has completed acquisition of 74% paid-up capital of Jhajjar KT Transco (JKTPL) from Kalpataru Power Transmission (KPTL) and Techno Electric & Engineering Company (TEECL) at an enterprise value of Rs 310 crore.

The acquisition of aforesaid power transmission asset is in line with the IndiGrid investment strategy as provided in the Trust Deed with a focus to ensure stable distribution to unitholders by owning assets with long term contracts.

JKTPL being a Power Transmission Company, the approval from Haryana Vidyut Prasaran Nigam(HVPNL) has been obtained for the aforesaid acquisition.

JKTPL was incorporated on May 19, 2010 and entered into a TSA with HVPNL in the same month. JKTPL operates two EHV overhead transmission lines of ~103 kms and two substations comprising of 2x315 MVA + 2x100 MVA transformation capacity in the state of Haryana, India. The Asset was fully commissioned in March, 2012. During the FY 2019-20, JKPTL had a total Revenue of ~Rs. 39 Crores

 

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