Tata Power has received a letter of intent from REC Ltd for the acquisition of Jejuri Hinjewadi Power Transmission, a project special purpose vehicle (SPV). In an exchange filing, the company stated that Jejuri Hinjewadi Power Transmission Limited will be developed on a Build-Own-Operate-Transfer basis to provide transmission services for a period of 35 years.
The company elaborated that the project involves the construction of approximately 115 km of 400 kV double-circuit line between Jejuri and Hinjewadi, as well as the extension of 400 kV GIS line bays at substations in both locations.
Furthermore, Tata Power stated that the annual transmission charge for the project is set at Rs 155.78 crore. The company added that the project is scheduled to be operational within 24 months of the SPV transfer date.
Tata Power Commission 400 kV transmission line
Earlier on Tuesday, Tata Power commissioned its 400 kV Koteshwar–Rishikesh transmission line, a critical link that will enable the evacuation of 1,000 MW of hydropower from the Tehri–Koteshwar generation complex in Uttarakhand to multiple northern states and UTs.
This new line will channel clean, renewable energy not only to Uttarakhand but also to Haryana, Punjab, Uttar Pradesh, Jammu & Kashmir, Himachal Pradesh, Chandigarh, Rajasthan, and Delhi, significantly strengthening regional energy security and grid reliability.
Tata Power share price
Tata Power share price closed flat at Rs 380. The company’s stock has declined 3.94 per cent. In the past six months and one-year period, Tata Power’s stock has lost 7.78 per cent and 12.60 per cent market value, respectively.