Tata Power to procure Paradeep Transmission SPV from PFC Consulting

Tata Power has been granted a Letter of Intent (LoI) from PFC Consulting to acquire Paradeep Transmission Ltd, a project-specific special purpose vehicle (SPV). PFC Consulting is a wholly-owned subsidiary of Power Finance Corporation.

The SPV will be developed on a build, own, operate, and transfer basis, providing transmission service for 35 years from the scheduled date of commercial operation. The commercial operation date is set for 24 months after the SPV acquisition.

The project involves constructing a 2 x 1,500 MVA, 190 km, 765 kV double circuit transmission line from the existing Angul substation to the proposed Paradeep substation in Odisha.

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Tata Power, an Indian electric utility and electricity generation company based in Mumbai, is part of the Tata Group. Tata Power has an installed electricity generation capacity of 14,707 MW, with 5,847 MW from non-conventional (green energy) sources and the rest from thermal energy, making it India’s largest integrated power company.

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