The special purpose vehicle project will be developed on a build-own-operate-transfer (BOOT) basis to provide transmission services for 35 years from the scheduled date of commercial operation, which is 18 months from the date of SPV acquisition.

Feb 20, 2024

Tata Power has received the letter of intent (LoI) from REC Power Development and Consultancy to acquire the Jalpura Khurja Power Transmission Limited, a project special purpose vehicle (SPV), at an estimated cost of Rs 838 crore.

The SPV will be developed on a build-own-operate-transfer (BOOT) basis to provide transmission services for 35 years from the scheduled date of commercial operation (SCOD), which is 18 months from the date of SPV acquisition, the company said in an exchange filing.

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It further said that the letter of intent (LoI) was received from REC Power Development and Consultancy Ltd, a wholly-owned subsidiary of REC Ltd.

RECPDCL is a wholly-owned subsidiary of REC Limited, a non-banking finance company (NBFC), and infrastructure financing company under the Ministry of Power.

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Tata Power, formerly a part of the three entities jointly known as Tata Electric Companies, is one of the country’s largest integrated power companies, which is a pioneer in technology adoption. It has presence across the entire power value chain – generation of renewable as well as conventional power including hydro and thermal energy, transmission & distribution, coal & freight, logistics, and trading.