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Tata Power to acquire Paradeep Transmission from PFC 

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Tata Power has announced that it has received a Letter of Intent (LoI) from PFC Consulting, a wholly-owned subsidiary of Power Finance Corporation, to acquire Paradeep Transmission Ltd, a project-specific special purpose vehicle (SPV).

In an exchange filing, Tata Power stated that the SPV would be developed on a build, own, operate, and transfer (BOOT) basis to provide transmission services for 35 years from the scheduled date of commercial operation. The commercial operation date is set to be effective 24 months from the acquisition date of the SPV.

The project’s scope includes constructing two 1,500 MVA transformers and a 190 km 765 kV double circuit transmission line from the existing Angul substation to the proposed substation at Paradeep, Odisha, among other related work.

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Automobile dealer revenue growth to slow to 7-9% this fiscal year: Crisil Ratings

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Patel Engineering partners with RVNL for hydro and infrastructure projects

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