Tata Power announced on Thursday that it has acquired ERES-XXXIX Power Transmission Ltd, a special purpose vehicle (SPV), from REC Power Development and Consultancy Ltd. In a regulatory statement, Tata Power confirmed receiving a Letter of Intent (LOI) from REC Power Development and Consultancy Ltd, a wholly-owned subsidiary of REC Ltd, for the acquisition.
The project will have annual transmission charges of ₹289.729 crore, as outlined in the filing. The ERES-XXXIX project will be developed on a Build-Own-Operate-Transfer (BOOT) basis, with a 35-year transmission service agreement starting from December 31, 2027, the Scheduled Commercial Operation Date (SCOD).
The project includes the construction of a 2x 1500 MVA, 765/400 kV GIS substation in Gopalpur, Odisha, along with associated bays at Angul and Gopalpur (OPTCL). Tata Power, part of the Tata Group, is a prominent integrated power company in India with a diverse portfolio spanning 15,010 MW.
This includes renewable and conventional energy generation, transmission and distribution, trading, storage solutions, and solar cell and module manufacturing. Tata Power is a leader in India’s clean energy transition, with 6,150 MW of clean energy generation, representing 41% of its total capacity, and has committed to achieving carbon neutrality by 2045. The company provides a comprehensive clean energy platform and continues to attract global investment to support its growth and sustainability goals
