Tata Power has announced receiving a Letter of Intent (LOI) from REC Power Development and Consultancy Limited for a significant power transmission project acquisition. The disclosure was made on December 11, 2025, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Project Acquisition Details

The Letter of Intent pertains to the acquisition of Jejuri Hinjewadi Power Transmission Limited, which operates as a project special purpose vehicle (SPV). REC Power Development and Consultancy Limited, a wholly owned subsidiary of REC Limited, has awarded this project to Tata Power.

Technical Specifications and Scope

The project involves comprehensive transmission infrastructure development between two key locations in Maharashtra. The technical scope includes construction of approximately 115 km of 400kV double-circuit overhead transmission lines connecting Jejuri and Hinjewadi.

Additionally, the project encompasses:

• Extension of 400kV GIS line bays at substations in both Jejuri and Hinjewadi locations
• Construction and commissioning of 400kV double-circuit overhead transmission lines
• Complete transmission infrastructure setup for reliable power connectivity

Project Timeline and Operational Framework

The transmission project operates under a structured timeline with specific operational commitments. The Scheduled Commercial Operation Date (SCOD) is set for 24 months from the effective date of SPV transfer, providing a clear execution roadmap.

Strategic Significance

This acquisition represents Tata Power's continued expansion in the transmission sector, focusing on critical infrastructure development. The 35-year transmission service agreement provides long-term revenue visibility and strengthens the company's position in Maharashtra's power transmission network.

The project connects two important industrial and urban centers, potentially enhancing power supply reliability and grid stability in the region. The Build-Own-Operate-Transfer model ensures comprehensive project lifecycle management under Tata Power's operational expertise.

Regulatory Compliance

Tata Power has fulfilled all disclosure requirements under SEBI regulations, with detailed project information made available on the company's official website. The transaction does not involve any related party considerations, and no promoter or group company interests are present in the awarding entity.

Tata Power has secured a Letter of Intent (LOI) for a major transmission project that will generate annual transmission charges of ₹1.56 billion. This significant contract award strengthens the company's position in India's power transmission infrastructure sector.

Project Details

The transmission project represents a substantial addition to Tata Power's portfolio, with the following key parameters:

Strategic Significance

This LOI award underscores Tata Power's growing capabilities in the transmission segment, which forms a critical component of India's power infrastructure development. The substantial annual revenue potential from this project highlights the scale and importance of the transmission infrastructure being developed.

Business Impact

The ₹1.56 billion annual transmission charges from this project will contribute significantly to Tata Power's recurring revenue stream. Transmission projects typically involve long-term contracts, providing stable cash flows and supporting the company's overall financial performance in the power sector.

This contract win demonstrates Tata Power's continued success in securing large-scale infrastructure projects, reinforcing its position as a key player in India's power transmission network expansion.