Tata Power to Acquire Paradeep Transmission Project from PFC Consulting

Tata Power announced its receipt of a letter of intent from PFC Consulting to acquire Paradeep Transmission Ltd, an SPV set to provide transmission services for 35 years. The project, involving significant infrastructure work, will be operational 24 months post-acquisition.

Tata Power has been granted a letter of intent from PFC Consulting to acquire a special purpose vehicle (SPV) named Paradeep Transmission Ltd. The announcement came via an exchange filing on Monday.

PFC Consulting, a subsidiary of Power Finance Corporation, issued the LoI for the SPV, which will be developed to provide transmission services for 35 years under a build, own, operate, and transfer basis. The commercial operation is slated to begin 24 months from the acquisition date.

The project's scope includes the construction of 2 x 1,500 MVA capacity substations and a 190 km, 765 kV double circuit transmission line from Angul substation to the proposed site at Paradeep, Odisha.

(With inputs from agencies.)