Sekura Energy Ltd to acquire stake in Essel Powers transmission projects

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Selina Energy is backed by Edelweiss Infrastructure Yield Plus fund

Edelweiss Infrastructure Yield Plus fund backed Sekura Energy Ltd has signed an agreement to acquire a stake in two operating power transmission assets from Essel Infraprojects Limited, 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 commissioned in FY20. The stake in the two under construction assets would be acquired post commissioning.

Subahoo Chordia, Head of Edelweiss Infrastructure Yield Plus fund said, “This transaction fits well with the Edelweiss Infrastructure Yield Plus fund strategy of investing in Infrastructure assets which can deliver predictable long term returns to investors. Sekura Energy, an independent platform invests in long term yielding opportunities in the power sector”

“With the acquisition of these transmission assets Sekura Energy will be one of the leading asset owners and investors in the power sector”, said Avinash Rao, CEO of Sekura Energy Limited.

Essel Infraprojects Limited CEO & Whole Time Director, Mr Rohit Modi, said “Essel Group has plans to expand its foot-print in the emerging infrastructure sectors like water, railways, municipal solid waste, etc. Asset monetization is an important aspect of our business strategy to create growth capital. Total enterprise value of these four projects is INR 6000 Crores. This transaction, the first of the monetization plans of the company, makes us even more confident of powering the development agenda of an India on the move.”

The completion of the transaction is contingent upon fulfilment of certain customary regulatory, lender approvals and closing conditions.

About Edelweiss Infrastructure Yield Plus

Edelweiss Infrastructure Yield Plus (EIYP or the Fund) is registered with Securities and Exchange Board of India (SEBI) as a Category I AIF under the SEBI (Alternative Investment Fund) Regulations, 2012 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 and other infrastructure which meet its risk-return matrix.

About Sekura Energy Ltd

Sekura Energy Limited is the energy focused platform of EIYP with a focus on investing, acquiring and operating assets in the Indian power sector.

Corporate office at 2.2 , 2nd Floor, 91 Springboard, Kagalwala House, Behind Mercedes Showroom, CST Road, Kalina, Santacruz East, Mumbai – 400 098

About Essel Infraprojects

Essel Infraprojects Ltd. is one of the fastest growing infrastructure companies and one of the successful ventures by the Essel Group. It builds modern, sustainable and inclusive infrastructure to enhance economic environments and quality of people’s lives. It aspires to contribute to India’s growth story by investing in key infrastructure initiatives. With four major strategic business units – Transport, Green Energy & Transmission, Smart Utilities, Environment and 10 verticals – it is pioneering progressive infrastructure with order book value exceeding USD 5.06 billion.