Tata Power Acquires Paradeep Transmission Ltd for Strategic Expansion

Tata Power completed the full acquisition of Paradeep Transmission Ltd, a special purpose vehicle, for Rs 18.64 crore. The company, formed to establish transmission systems in Eastern India, was acquired following a share purchase agreement. The deal involves a one-time settlement of outstanding debt.

Tata Power, a leading utility company, has announced its acquisition of Paradeep Transmission Ltd, acquiring a 100% stake in the special purpose vehicle for Rs 18.64 crore.

This strategic move, completed on November 6, 2024, was disclosed in a regulatory filing, marking a significant expansion in Tata Power's transmission capabilities.

Paradeep Transmission, established as a vehicle to facilitate the Eastern Region Expansion Scheme-XXXIV, aims to boost the transmission service with key infrastructure including 765 KV lines and substations across strategic locations.

(With inputs from agencies.)