Kalpataru Projects International Completes Full Divestment of Kohima-Mariani Transmission Ltd Stake to Apraava Energy
Kalpataru Projects Completes Full Divestment of Kohima-Mariani Transmission Stake
Kalpataru Projects International Limited (KPIL) has completed the sale of its remaining approximately 26% equity stake in Kohima-Mariani Transmission Limited (KMTL) to Apraava Energy Private Limited, completing its exit from the transmission project. The balance stake was transferred to Apraava on June 24, 2026, with the company receiving intimation of the completion of the transaction on June 25, 2026.
A Seven-Year Divestment Process
The transaction concludes a divestment process that began in 2019, when KPIL sold approximately 48% of its stake in KMTL to Apraava, with the remaining approximately 26% stake retained pending regulatory and other approvals in accordance with the transmission service agreement. With this sale, Kohima-Mariani Transmission Ltd (KMTL) has now become a wholly-owned subsidiary of Apraava Energy.
Infrastructure Project Scope
The North Eastern Region Strengthening Scheme VI involved putting up a new 400/220kV, 2×500 MVA substation at Kohima in Nagaland, connected to the Imphal substation in Manipur through a 400kV double-circuit line running 272 kilometres, and a 400kV double-circuit line of 236 kilometres connecting the Kohima substation to the Mariani substation in Assam. With an estimated cost of Rs 653 crore, the project was fully commissioned in October 2020.
KMTL's Ownership History
KMTL was incorporated in January 2016 as a wholly-owned subsidiary of PFC Consulting Ltd to develop the transmission scheme. A consortium of Kalpataru Projects International Ltd (74% stake) and Techno Electric & Engineering Company Ltd (26% stake) was selected as the winning developer. The SPV was acquired by the consortium in March 2017, and the project was fully commissioned in October 2020.
In July 2019, Techno also entered into an agreement to sell its 26% stake in KMTL to Apraava Energy, with that transaction completed in December 2021. By December 2021, Apraava's stake in KMTL was 49%, rising to 74% by February 2023, and now to 100%.
Strategic Context for Kalpataru Projects
Kalpataru Projects International Limited is a diversified Engineering, Procurement and Construction (EPC) company. For the year ended March 31, 2026, the company reported a consolidated revenue of ₹27,143 crore, a net profit of ₹1,031 crore, and an order book of ₹65,457 crore. The company's operations span power transmission & distribution, buildings & factories, water supply & treatment, railways, oil & gas infrastructure, urban mobility, highways, and airports. KPIL currently executes projects in over 25 countries and has a footprint in more than 75 countries across Asia, Africa, the Middle East, the Americas, and Europe.
KMTL is the second transmission asset owned (or co-owned by Kalpataru Projects), now under the Apraava Energy ownership, following Kalpataru's earlier sale of its entire equity stake in Kalpataru Satpura Transco Pvt Ltd in Madhya Pradesh, an acquisition completed in November 2019 that marked Apraava Energy's entry in the power transmission space.
Apraava Energy's Transmission Portfolio
Founded in 2002, Apraava has evolved into a climate-conscious organisation spread across 13 states in India with a portfolio comprising ~2 GW of installed capacity including ~1200 MW of wind and 250 MW of solar energy projects, three power transmission assets (~516 kilometres; 3.5 GW substation capacity) and 2.5 million installed smart meters. Three greenfield transmission projects (~470 kilometres of transmission lines and ~8 GW substation capacity), a wind project (300 MW) and two solar projects (550 MW) are under construction.