Moving towards green business to achieve ESG oriented growth in future
Mumbai: Essar Power Limited, the first independent private sector power producer in India, has sold two of its transmission lines to Adani Transmission Limited (ATL) for Rs. 1,913 crore. Essar Power enters into agreement with Adani Transmission to sell transmission asset
Essar Power Transmission Company Limited (EPTCL) has 465 km of transmission lines in three states of India. The two lines agreed between the two companies have a 400 kV inter-state transmission line connecting Mahan to Sipt pooling substation, which is operational. The project is operating under a return structure under the regulation of CERC.
During the last three years, Essar Power has borrowed Rs. 30,000 crore from the top level to Rs. 6,000 crore. At the same time, Essar Power is in the process of building a green balance sheet around renewable energy, in line with Essar’s strategy of investing in a future-focused business that will deliver the best returns within the ESG framework.
Mr. Kush SA, CEO, Essar Power Ltd. said, “With this financial transaction, Essar Power is rebalancing its power portfolio with the dual objective of delivering its balance sheet and investing in green and renewable energy to enhance its future growth. Essar Power currently has the capacity to generate 2,070 MW at four plants in India and Canada. ”