Tata Power: In a bid to become the special purpose vehicle (SPL) of REC Power Development and Consultancy, a division of REC, Tata Power was chosen to acquire Jalpura Khurja Power Transmission Limited (JKPTL), a transmission project.
A budget of Rs 838 crore is projected for the project.
Establishing an intra-state transmission system will be necessary for the building of 400/220 kV, 2×500 MVA GIS substations at Metro Depot (Greater Noida) and 400/220 kV, 2×500 MVA GIS substations (Jalpura), as well as related transmission lines, according to Tata Power.
The project will enhance Uttar Pradesh’s power supply and dependability while fortifying the state’s electrical grid. According to the statement, the planned project will be used to meet Uttar Pradesh’s electricity needs, with any extra power being fed into the Northern Grid to meet the needs of other Northern Indian states.
In accordance with guidelines released by the union ministry of power, Tata Power was awarded the letter of intent (LoI) subsequent to being declared the successful bidder in the transmission based competitive bidding (TBCB) process. Build-own-operate transfer would be used in the development of the Project SPV, Jalpura Khurja Power Transmission Limited.
After the scheduled date of commercial operation (SCOD), which is 18 months after the date of SPV, the Project SPV is required to provide transmission service for 35 years.
For a duration of 35 years, the Company is subject to the award.
