Tata Power Limited has received a letter of intent (LOI) from PFC Consulting Limited, (PFCCL) a subsidiary of Power Finance Corporation Limited, to acquire Paradeep Transmission Limited, a project-specific special purpose vehicle.
The scope of project involves constructing 2 x 1500 MVA, 765/ 400 kV gas insulated substation (GIS) at Paradeep with associated bays at Angul and Paradeep, ~190 km of 765 kV double circuit transmission line from existing Angul substation of Power Grid Corporation of India Limitedto the proposed 765 kV GIS substation at Paradeep and ~12 km of 400 kV line from existing Odisha Power Transmission Corporation Limited substation at Paradeep to the proposed 765 kV GIS substation at Paradeep.
The project is set to operate for 35 years and is valued at Rs 2.56 billion.