R-Infra sells Mumbai power biz to Adani Transmission for Rs 188 bn
Source: IRIS | 22 Dec, 2017, 10.08AM
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Rating: NAN / 5 stars. |
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Reliance Infrastructure's Mumbai Power business (known as Reliance Energy) is India's largest private sector integrated power utility distributing power to nearly 3 million residential, industrial and commercial consumers in the suburbs of Mumbai, covering an area of 400 sq km. It caters to a peak demand of over 1,800 MW, with annual revenues of Rs 75 billion with stable cash flows. Going forward, RInfra will focus on upcoming opportunities in asset light EPC and Defence businesses. The proposed transaction is subject to customary approvals.
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