TATA POWER CO.LTD. Acquires 100% Stake in Paradeep Transmission Limited for ₹ 18.64 Crore

TATA POWER CO.LTD. has announced the acquisition of 100% equity stake in Paradeep Transmission Limited, a special purpose vehicle, for a consideration of ₹ 18.64 Crore. Paradeep Transmission Limited was set up to Build-Own-Operate-Transfer basis, to provide transmission service with a turnover of ₹ 256.183 Crore. The acquisition is aimed at establishing and operating the transmission system for Eastern Region Expansion Scheme-XXXIV (Paradeep Transmission Limited) which comprises approximately 190 km of 765 KV D/C line, Paradeep 765/400 KV GIS substation, Bay Ext. at Angul (765 KV AIS) and at OPTCL- Paradeep (400 KV GIS). The schedule date of commercial operation (‘SCOD’) of the said SPV will be 24 months from the date of SPV acquisition.