Tata Power Acquires Project SPV ERES-XXXIX from REC Power Development and Consultancy
Tata Power has received a Letter of Intent from REC Power Development and Consultancy Ltd. to acquire ERES-XXXIX Power Transmission Ltd., a project special purpose vehicle, for providing transmission services over 35 years, with annual transmission charges of INR 289.729 crore.
October 18, 2024. By Mrinmoy Dey
“The company has received Letter of Intent (LOI) from REC Power Development and Consultancy Ltd. (a wholly owned subsidiary of REC Ltd.) to acquire ERES-XXXIX Power Transmission Ltd. (ERES-XXXIX), a project special purpose vehicle (SPV),” Tata Power informed in a regulatory filing.
It will involve annual transmission charges of INR 289.729 crore.
The project SPV ERES-XXXIX would be developed on a build, own, operate and transfer basis, to provide transmission service for 35 years from the scheduled date of commercial operation on December 31, 2027.
According to the filing, the scope of project involves constructing 2 x 1500 MVA, 765/400 kV GIS substation at Gopalpur with associated bays at Angul and Gopalpur (OPTCL), about 190 km of 765 kV double circuit transmission line from existing Angul substation of PGCIL to the proposed 765 kV GIS substation at Gopalpur and about 12 km of 400 kV line from upcoming OPTCL substation at Gopalpur to the proposed 765 kV GIS substation at Gopalpur.
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