Adani Transmission grabs 2 SPVs from Rajasthan transco

Adani Transmission grabs 2 SPVs from Rajasthan transco
07/08/2017 , by , in ALLIED

Adani Transmission said that it has acquired two special purpose entities from Rajasthan Rajya Vidyut Prasaran Nigam through competitive bidding route.

The Rajya Vidyut Prasaran Nigam (RVPN) had formed the two special purpose vehicles (SPVs) — Barmer Power Transmission Service Ltd (BPTSL) and Thar Power Transmission Service Ltd — in June last year to set up 132 kv grid sub stations along with associated transmission lines.

Following the acquisition, the two SPVs have become wholly-owned subsidiaries of Adani Transmission, according to a regulatory filing by the Adani group firm. The company had “acquired 100 per cent equity share capital of two SPV companies” on August 4, the filing said. The company acquired the SPVs “from RVPNL (Rajya Vidyut Prasaran Nigam Ltd) pursuant to competitive bidding process carried out by RVPN”, the filing said.

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