RInfra to sell Mumbai power business to Adani Transmission
India, Maharashtra: Reliance Infrastructure (RInfra) has agreed to sell its integrated Mumbai power business, known as Reliance Energy to Adani Transmission Limited (ATL).
The Mumbai power business of RInfra includes generation, transmission and distribution of power of the company in the capital city of the Indian state of Maharashtr, reports EBR.
With the acquisition, ATL will enter into the power distribution space in India and also boost its presence in the power transmission sector.
Adani Group chairman Gautam Adani said: “We see the distribution sector as the next sun rise sector as India embarks on its mission to achieve 24×7 power for all. We see a massive growth opportunity and will look at both organic and inorganic opportunities to build a market leading distribution company.”