Tata Power Acquires Transmission SPV in Odisha for INR 18.56 Crore from RECPDCL
Tata Power has acquired a 100 percent stake in transmission SPV ERES-XXXIX Power Transmission Ltd. from REC Power Development and Consultancy Ltd. for INR 18.56 crore to establish a key transmission system in Odisha.
November 15, 2024. By Mrinmoy Dey
“The Tata Power Company Ltd. has signed the Share Purchase Agreement and acquired 100 percent equity stake in ERES-XXXIX Power Transmission Ltd. It was set up as a SPV to Build-Own-Operate Transfer basis, to provide transmission service,” shared Tata Power in an exchange filing.
The acquisition involves purchase of equity against cash consideration of INR 18.56 crore.
It further added that the company is a SPV formed in March 27, 2024, specifically to establish the transmission system for ERES-XXXIX Power Transmission Ltd. (Gopalpur, Odisha) which comprises Angul to Gopalpur ~190 km of 765 KV D/C line, Gopalpur 765/400 KV GIS substation, Bay Ext. at Angul (765 KV AIS) and at OPTCL-Gopalpur (400 KV GIS S/s to be developed by OPTCL).
Also, there is a ~12 km of 400 KV D/C line from OPTCL (Gopalpur) 400 KV GIS S/s to Gopalpur 765 KV GIS S/s.
The project is scheduled for completion by December 2027.
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