Tata Power receives LoI from REC to acquire transmission project (ERES-XXXIX)

Tata Power Company has received a letter of intent from REC Power Development & Consultancy (a wholly owned subsidiary of REC) to acquire ERES-XXXIX Power Transmission (ERES-XXXIX), a project special purpose vehicle (SPV).

The Project SPV ERES-XXXIX would be developed on Build-Own-Operate Transfer basis, to provide transmission service for 35 years from the Scheduled Date of Commercial Operation (SCOD) on 31 December 2027.

The scope of project involves constructing 2 x 1500 MVA, 765/ 400 kV GIS substation at Gopalpur with associated bays at Angul and Gopalpur (OPTCL), ~190 km of 765 kV double circuit transmission line from existing Angul substation of PGCIL to the proposed 765 kV GIS substation at Gopalpur and ~12 km of 400 kV line from upcoming OPTCL substation at Gopalpur to the proposed 765 kV GIS substation at Gopalpur.

The award is placed on the Company for a period of 35 years.

The annual transmission charges would be Rs 289.729 crore.