Tata Power receives long term work order from RECPDCL to acquire Special Purpose Vehicle
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New Delhi: Tata Power Company has announced the exchange that it has received a Letter of Intent (LOI) from REC Power Development and Consultancy Limited, a wholly owned subsidiary of REC Limited, for the acquisition of Jejuri Hinjewadi Power Transmission Limited, a project special purpose vehicle (SPV).
The Project SPV, Jejuri Hinjewadi Power Transmission Limited, will be developed on a Build-Own-Operate Transfer basis to provide transmission services for 35 years from the Scheduled Commercial Operation Date (SCOD), set 24 months after the SPV transfer.
The project includes construction of approximately 115 km of 400 kV double-circuit (D/c) line between Jejuri and Hinjewadi and extension of 400 kV GIS line bays at substations in both locations. The award is placed on the Company for a period of 35 years.
The Nature of order include the construction and commissioning of 400 kV D/c overhead transmission lines from Jejuri to Hinjewadi along with 400 kV bays at substations in both locations. The annual transmission charges of the transmission is Rs 155.78 crore.