Bhubaneswar : Tata Power Limited on 6th Novermber has completed the acquisition of 100% stake in Paradeep Transmission Limited for Rs.18.64 crore. The acquisition involves purchase of equity against cash consideration and one time settlement of outstanding debt.
Paradeep Transmission Limited is a special purpose vehicle formed on November 30, 2023, specifically to establish the transmission system for Eastern Region Expansion Scheme-XXXIV (Paradeep Transmission Limited) which comprises Angul to Paradeep 190 km of 765 KV D/C line, Paradeep 765/400 KV GIS substation, Bay Ext. at Angul (765 KV AIS) and at OPTCLParadeep (400 KV GIS). There is also a 12 km of 400 KV D/C line from OPTCL (Paradeep) 400 KV GIS S/s to Paradeep 765 KV GIS S/s. The schedule date of commercial operation (‘SCOD’) of the said SPV will be 24 months from the date of SPV acquisition.