Tata Power set to acquire Jalpura Khurja Power Transmission project worth Rs 838 crore
The Power unit, Tata Power has confirmed that it has received a letter of intent [LoI] from REC Power Development and Consultancy to acquire the Jalpura Khurja Power Transmission project at the cost of Rs 838 crore.
The project SPV [Special Purpose Vehicle] will be developed on a build-own-operate-transfer basis to provide transmission services for 35 years from the scheduled date of commercial operation which is 18 months from the date of SPV acquisition, according to exchange filing submitted by the company. The company has stated that it has received a letter of intent [LoI] from REC Power Development and Consultancy Ltd which is a wholly-owned subsidiary of REC Ltd to acquire Jalpura Khurja Power Transmission Limited, a special purpose vehicle. The estimated cost of the project is Rs 838 crore.
According to the exchange filing of the company, the disclosure has been made under Regulation 30 of the SEBI [ Listing Obligations and Disclosure Requirements ] Regulations 2015.
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Tata Power Company Limited is an Indian electric utility and electricity generation company based in Mumbai, India, and is part of Tata Group. The company has installed an electricity generation capacity of 14,110 MW, especially from Non-Conventional [Green Energy] which makes it India’s third-largest integrated power company.
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