Adani Transmission, the transmission business arm of Adani group, has acquired the debt-laden Reliance Infrastructure’s electricity generation, transmission and distribution business in Mumbai, in an all-cash deal valued at Rs 18,800 crore.
One of the largest corporate takeovers in the power sector in recent times, the deal will mark Adani’s foray into distribution space and strengthen its footprint in power transmission close to two million in the eastern and western suburbs right up to Bhayander. After Reliance hands over the business, its consumers will be billed by Adani Transmission.
The share purchase agreement will allow Adani Group to take over the generation, transmission and distribution of power of more than 1,800 MW catering to nearly 3 million residential, industrial and commercial consumers in Mumbai and its suburbs.
