Announced Fri, 19 Jun · 10:51 IST
Tata Power wins 35-year power transmission project worth Rs 521 cr/year
TATAPOWER · price
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Price reaction · full curve 14 horizons · vs prior close
+0.7%1-day move
₹402.85
prior close
₹401.80
base price
In-mkt
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AI summary
Tata Power received a Letter of Intent from REC Power Development and Consultancy Limited, a government entity under REC Limited, to acquire Ryapte Power Transmission Limited, a project SPV. The project involves building about 250 km of transmission lines and two greenfield substations in Karnataka on a build-own-operate-transfer basis. Annual transmission charges are Rs 521.07 crore, with a 35-year service period starting 30 months from the SPV transfer.
Likely market impact
Adds a long-term recurring revenue stream through a 35-year transmission contract, strengthening the transmission portfolio. Positive for earnings visibility.