AESL acquires 100% stake in Satara Power Transmission via SPA

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AI summary

AESL has signed a Share Purchase Agreement with PFC Consulting to acquire 100% equity of Satara Power Transmission Limited for cash at face value of Rs 10 per share. SPTL is a newly formed SPV set up for AESL's Rs 4,700 crore Maharashtra transmission project, which will build a 765 kV inter-regional corridor between Southern and Western Region grids to evacuate 4,500 MW of renewable and storage power. The deal is already completed and is not a related party transaction.

Likely market impact

Strengthens AESL's transmission portfolio and renewable power evacuation capacity in Maharashtra. Positive for long term growth.