Adani Transmission to explore all PPP, distribution
The endeavor of Adani Electricity Mumbai shall be to enhance customer delight by improving commercial and network management services, says hairman Anil Sardana.
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.
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.
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.
Would it be possible to share a break-up on the regulatory assets, what comes to Adani Power and what happens to any debt or its equivalent exposure that RInfra would have used certain regulatory asset as security for?
The outcome of unapproved and pending regulatory and legal matters pending at courts, etc shall belong to RInfra. So it’s for RInfra to legally pursue them.
What kind of public information campaign Adani Transmission plans, given the change in ownership of a distribution business that caters to this large a population?
The endeavor of Adani Electricity Mumbai, the vehicle which houses Gen-Trans-Distribution business of Mumbai, shall be to enhance customer delight by improving commercial and network management services.
RInfra had filed some legal cases against Tata Power, in relation to the Mumbai distribution business, will Adani Transmission also pursue those cases?
All past cases are to be pursued by RInfra and their outcome belongs to them, either way.
How does Adani Transmission plans to expand its presence in electricity distribution across India?
Adani Transmission will pursue all possible opportunities, in distribution franchises as well as PPP opportunities, as they arise.
