Tata Power completes Paradeep Transmission take over

The transaction was completed on 6 November.

Tata Power has signed a share purchase agreement for the full acquisition of special purpose vehicle (SPV) Paradeep Transmission Limited for INR 18.64 crore.

In a disclosure, Tata Power said the transaction was completed on 6 November. It involves the purchase of equity against cash consideration and one time settlement of outstanding debt.

Paradeep Transmission was established in November 2023 to build-own-operate transfer basis to provide transmission service with turnover of INR 256.183 crore.

Its specific duty is to establish a 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 SPV is projected to commence commercial operations 24 months after the date of its acquisition.