Mumbai, Dec. 12 -- Energy major Tata Power has officially announced through an exchange filing that it has received a Letter of Intent (LoI) from REC Power Development and Consultancy Ltd for the acquisition of Jejuri-Hinjewadi Power Transmission Ltd.
Tata Power stated that Jejuri Hinjewadi Power Transmission Limited, which is a special purpose vehicle (SPV) company, will be developed on a Build-Own-Operate-Transfer basis to provide transmission services for a period of 35 years.
The annual transmission charge for the project is set at Rs 155.78 crore. The company said that the project is scheduled to be operational within 24 months of the SPV transfer date.
The company stated that the Jejuri project involves the construction of approxim...