Tata Power to Acquire Paradeep Transmission Project from PFC Consulting

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.)