Adani Transmission to explore all PPP, distribution franchise opportunities

Post the acquisition of the Mumbai distribution business from Reliance Infrastructure, Anil Sardana, managing director and chief executive officer of Adani Transmission and chairman of Adani Electricity Mumbai (AEML), which is the new subsidiary formed to house the Mumbai distribution business, shares more details on the deal and the road ahead.

1. How much has been paid upfront to Reliance Infrastructure and are there any further payments to be made which are linked to certain milestones?

The transaction size is Rs 121 billion and besides this about Rs 6.50 billion has been paid on account of approved regulatory assets. Besides the above, the outcome of unapproved and pending legal cases at Maharashtra Electricity Regulatory Commission, Appellate Tribunal for Electricity and Supreme Court shall be to the account of RInfra.

2. How has the deal been funded?

The deal was funded through Rs 850 billion of loans from Indian lenders and Rs 36 billion of equity which in turn has been funded by promoters.