Tata Power secures LoI for Rs 15.44 billion transmission project

Tata Power Limited has received letter of intent (LoI) for the acquisition of Bikaner-III Neemrana-II Transmission Limited, a special purpose vehicle of PFC Consulting Limited. The transmission project, which has been won as a part of tariff-based competitive bidding, will be set up on the basis of build, own, operate, and transfer model for a period of 35 years. The project aims to facilitate the evacuation of 7.7 GW of clean energy from the Bikaner complex in Rajasthan. It involves creating a transmission corridor spanning approximately 340 km, connecting the Bikaner-III pooling station to the Neemrana II substation. The project, which is estimated to cost Rs 15.44 billion, is anticipated to be completed within 24 months from the project SPV transfer date.