Tata Power has recently informed exchanges that the company signed the Share Purchase Agreement (‘SPA’) and acquired a 100% equity stake in Paradeep Transmission Limited, a special purpose vehicle (SPV) dedicated to advancing power transmission capabilities in India.
The acquisition of Paradeep Transmission Limited involves a cash consideration of ₹18.64 crore along with a one-time settlement of outstanding debt.
With approval from the Ministry of Power, the acquisition was completed on November 6, 2024. The commercial operations of Paradeep Transmission are scheduled to start 24 months from this date.
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Tata Power