Kalpataru Power Transmission said it has entered into binding agreements with CLP India to sell its stake in three power transmission assets for an estimated enterprise value of Rs 3,275 crore. CLP India is owned by CLP Group, one of the largest investor-owned power businesses in Asia, and Caisse de depot et placement du Quebec (CDPQ), one of Canada’s leading institutional fund managers. Since 2002, CLP India has gradually grown its footprint to become one of the largest foreign investors in the Indian power sector. The assets being offloaded are Kalpataru Satpura Transco, Alipurduar Transmission and Kohima Mariani Transmission. The transaction is subject to requisite approvals and compliances as per reports. As a part of this deal, the transaction for Alipurduar Transmission and Kohima Mariani Transmission will be effective post commercial operation date and fulfilment of certain conditions. Techno Electric and Engineering Company own 26 per cent stake in Kohima Mariani Transmission. The estimated amount of debt at special purpose vehicles level will be about Rs 2,000 crores at the time of commercial operation date. Ernst & Young and Khaitan & Company are advisors to Kohima Mariani Transmission and Techno Electric and Engineering Company for the transaction.