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

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).

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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