The Tata Power Company Ltd receives LOI from REC Ltd's subsidiary

The Tata Power Company Limited has received a Letter of Intent (LOI) from REC Power Development and Consultancy Limited, a wholly owned subsidiary of REC Limited, for the acquisition of Jejuri Hinjewadi Power Transmission Limited, a project special purpose vehicle (SPV).

The Project SPV, Jejuri Hinjewadi Power Transmission Limited, will be developed on a Build-Own-Operate Transfer basis to provide transmission services for 35 years from the Scheduled Commercial Operation Date (SCOD), set 24 months after the SPV transfer.

The project includes construction of approximately 115 km of 400 kV double-circuit (D/c) line between Jejuri and Hinjewadi and extension of 400 kV GIS line bays at substations in both locations.

The Annual Transmission Charges - ₹ 155.78 crore.

Shares of Tata Power Company Limited was last trading in BSE at Rs. 380.10 as compared to the previous close of Rs. 379.60. The total number of shares traded during the day was 2591377 in over 4702 trades.

The stock hit an intraday high of Rs. 382.25 and intraday low of 376.40. The net turnover during the day was Rs. 987907144.00.

Source : Equity Bulls

Keywords

TataPowerCompany INE245A01021 LOI RECPowerDevelopmentandConsultancy SPV Acquisition JejuriHinjewadiPowerTransmission