INSUBCONTINENT EXCLUSIVE:
Mumbai: Sekura Energy Ltd, backed by Edelweiss Infrastructure Yield Plus (EIYP) fund, will acquire two operating power transmission assets
from Essel Infraprojects Ltd- namely Darbhanga-Motihari Transmission Limited and NRSS XXXI (B) Transmission Limited
Sekura is also set to acquire Warora-Kurnool Transmission Limited and NRSS XXXVI Transmission Limited, which are expected to be
The stake in the two under construction assets would be acquired post commissioning, according to a statement from Edelweiss
The enterprises value of the four projects comes at $800 million (Rs.6000 crore)
Tata Power, Sterlite Power, CLP India and Edelweiss Financial Services are in fray to acquire $1billion worth power transmission projects
of Subhash Chandra-promoted Essel Infraprojects, ET reported in June
The four firms have been shortlisted for negotiations by Essel Infraprojects, which also plans to exit the solar business apart from
Adani Power and Greenko, which had earlier evinced interest, are out of race, according to ET report
Sekura Energy Limited is the energy focused platform of EIYP with a focus on investing, acquiring and operating assets in the Indian power
sector.
Darbhanga-Motihari Transmission Co Ltd was commissioned in 2013 and is operational
NRSS XXXVI Transmission Ltd is an SPV for a system strengthening scheme in the northern region and is scheduled for commissioning in
transaction fits well with the Edelweiss Infrastructure Yield Plus fund strategy of investing in Infrastructure assets which can deliver
important aspect of our business strategy to create growth capital
This transaction, the first of the monetization plans of the company, makes us even more confident of powering the development agenda of an
Edelweiss Infrastructure Yield Plus is registered as a Category I AIF for investing in infrastructure sector in the target markets in India
The fund focuses on investing in sectors such as power transmission, renewable power, roads and highways
Edelweiss Alternate Asset Advisors Ltd (EAAA) is the investment manager to the Fund
