Tata Power Acquires 100% Stake in ERES-XXXIX Power Transmission for ₹ 18.56 Crore

The Tata Power Company Limited has signed the Share Purchase Agreement (‘SPA’) and acquired 100% equity stake in ERES-XXXIX Power Transmission Limited ('ERES-XXXIX'), a special purpose vehicle. ERES-XXXIX was set up to Build-Own-Operate-Transfer basis, to provide transmission service. The Tata Power Company Limited is acquiring ERES-XXXIX for a consideration of ₹ 18.56 crore. ERES-XXXIX is a SPV formed in March 27, 2024, specifically to establish the transmission system for ERES-XXXIX Power Transmission Limited (Gopalpur, Odisha) which comprises Angul to Gopalpur ~190 km of 765 KV D/C line, Gopalpur 765/400 KV GIS substation, Bay Ext. at Angul (765 KV AIS) and at OPTCL-Gopalpur (400 KV GIS S/s to be developed by OPTCL). The schedule date of commercial operation (SCOD) of the said SPV will be on December 31, 2027.