Tata Power, has won the bid to acquire Jalpura Khurja Power Transmission Limited (JKPTL), a transmission project set up by REC Power Development and Consultancy, a unit of REC, as a special purpose vehicle.
The project is estimated to cost Rs 838 crore.
The project will involve the establishment of an intra-state transmission system for the construction of 400/220 kV, 2×500 MVA GIS substations at Metro Depot (Greater Noida) and 400/220 kV, 2×500 MVA GIS substations (Jalpura,) along with associated transmission lines, Tata Power said.
The project will strengthen the power grid and improve the power supply and reliability in Uttar Pradesh. The proposed project will be utilized to meet the power requirement of Uttar Pradesh and the surplus power shall be fed into the Northern Grid to meet the power requirement of other states in Northern India, it said .
Tata Power received the letter of intent (LoI) after emerging as a successful bidder in the transmission based competitive bidding (TBCB) process, according to the guidelines issued by the union ministry of power. The Project SPV (Jalpura Khurja Power Transmission Limited) would be developed on build-own-operate transfer basis.
The Project SPV is to provide transmission service for 35 years from the schedule date of commercial operation (SCOD) which is 18 months from the date of SPV.
The award is placed on the Company for a period of 35 years.
