Tata Power bags project SPV ERES-XXXIX from REC Power Development

Tata Power on Thursday said it has secured ERES-XXXIX Power Transmission Ltd from REC Power Development and Consultancy Ltd
Tata Power bags project SPV ERES-XXXIX from REC Power Development
Tata Power bags project SPV ERES-XXXIX from REC Power Development
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New Delhi: Tata Power on Thursday said it has secured ERES-XXXIX Power Transmission Ltd, a project special purpose vehicle (SPV), from REC Power Development and Consultancy Ltd.

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In a regulatory filing Tata Power said it has received a Letter of Intent (LOI) from REC Power Development and Consultancy Ltd, a wholly-owned subsidiary of REC Ltd, to acquire ERES-XXXIX Power Transmission Ltd.

Annual transmission charges of the project stood at Rs 289.729 crore, the filing added.

According to the filing, the project SPV ERES-XXXIX would be developed on Build-Own-Operate Transfer basis, to provide transmission service for 35 years from December 31, 2027, the Scheduled Date of Commercial Operation (SCOD).

Tata Power bags project SPV ERES-XXXIX from REC Power Development
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The scope of the project involves constructing 2x 1500 MVA, 765/ 400 kV GIS substation at Gopalpur, in Odisha with associated bays at Angul and Gopalpur (OPTCL).

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