Tata Power Limited has signed a share purchase agreement (SPA) to acquire a 100 percent equity stake in Paradeep Transmission Limited, a special purpose vehicle (SPV) as a build, own, and operate a transmission service for Rs 186.4 million.
The SPV is responsible for building the transmission system for the Eastern Region Expansion Scheme-XXXIV. This includes a 190 km 765 kV D/C line from Angul to Paradeep, a 765/400 kV GIS substation in Paradeep, and bay extensions at Angul (765 kV AIS) and Odisha Power Transmission Corporation Limited
Paradeep (400 kV GIS). Additionally, there will be a 12 km 400 kV D/C line connecting OPTCL Paradeep 400 KV GIS substation to the Paradeep 765 KV GIS substation.