Tata Power’s Stock Increases 4% After It Received a 1,500 Crore Transmission Project in Rajasthan.

Tata Power Firm Limited’s shares rose about 4% to Rs 286 in early trade on December 4 after the firm announced the successful acquisition of the Bikaner-III Neemrana-II Transmission renewable energy project for roughly Rs 1,544 crore. PFC Consulting Limited, a subsidiary of Power Finance Corporation, constructed this energy project as an SPV.

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An SPV or entity (SPE) is a subsidiary established by a parent business to isolate and manage certain financial risks.

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The transmission project, which will be built on a Build-Own-Operate-Transfer (BOOT) model, is ideally positioned to facilitate the evacuation of 7.7 gigatonnes (GW) of renewable energy from Rajasthan’s Bikaner Complex.

“The project entails the construction of a 340-kilometer transmission corridor from Bikaner-III pooling station to Neemrana II substation,” the business stated in a December 1 exchange filing.

Tata Power intends to keep the transmission project running for the next 35 years. The project is expected to be completed within 24 months following the transfer of the project’s SPV.

Following successful commissioning, the project is projected to play a critical part in the Ministry of Power’s 2022 strategy. The goal of this strategic plan is to incorporate more than 500 gigatonnes (GW) of renewable energy capacity into the national grid by 2030.

Tata Power Renewable Energy Limited (TPREL), a Tata Power subsidiary, recently won the contract to create a 200 MW firm and dispatchable renewable energy (FDRE) project in conjunction with SJVN. The plant is built in a hybrid arrangement with solar, wind, and battery storage components that are all adequately proportioned for their capabilities.

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Axpert Media News Deskhttps://axpertmedia.in
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