Reliance Infrastructure to sell power transmission business to Adani

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Reliance Infrastructure to sell power transmission business to Adani

Reliance Infrastructure has announced an agreement with Adani Transmission to sell its power transmission assets in India

Although specific details of the transaction has not yet been disclosed by any party, the estimated value for Reliance's portfolio of transmission projects is INR70 billion (US$1 billion).

Reliance Infrastructure owns two power transmission assets spanning Maharashtra, Gujarat, Madhya Pradesh and Karnataka, as well as a 74 per cent stake in another in Himachal Pradesh and Punjab. All these three projects are completed and revenue generating.

According to sources, Gautam Adani, chairman of Adani Group, stated: 

“With this acquisition, ATL will enjoy substantial benefit of scale driving and is in sync with the deep-rooted strategy of ATL to enhance the value for the stakeholders through both organic as well as inorganic growth”. 

List of country news

Country news

  • October 19, 2016

    India Infrastructure Fund II to acquire 24 MW wind project

    Jindal Steel & Power Ltd (JSPL) has agreed to to divest its wind power project at Satara in Maharashtra to India Infrastructure Fund II managed by IDFC Alternatives. Details of the transaction has not yet been disclosed. Read more
  • October 06, 2016

    Azure closes $20 M OPIC loan for Indian rooftop solar

    Azure Sunlight will utilize a US$20 million loan facility for the development of a rooftop solar portoflio in India with a total capacity of 19 MW. Read more
  • September 22, 2016

    Tata Power and ICICI Venture partner to launch Power Platform with global investors

    Tata Power's wholly owned subsidiary Tata Power International Pte Limited and ICICI Venture has announced the creation of a platform company to facilitate investment in power projects in India in the coming two-three years, which are in advanced stages & near operational readiness or operating. Read more
  • September 21, 2016

    OPIC finances for Platanares geothermal plant in Honduras

    The Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution, has approved support for new development projects totaling just over US$1 billion. Read more
  • September 09, 2016

    Coal India to call tender for 800 MW solar projects

    Coal India, an Indian state-controlled coal mining company, has plans to launch a tender process for the development of 800 MW capacity solar projects. Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.