Tata Power acquires 100% stake in Bikaner SPV
Tata Power Company on Thursday said it has acquired a 100% equity stake in Bikaner III Neemrana II Transmission, a special purpose vehicle (SPV) meant for the project.
The acquisition process was completed on December 27, 2023, for Rs 18.6 crore, Tata Power said in a regulatory filing.
The special purpose vehicle formed in June 2023 will build, own, operate, and transfer electrical power transmission systems between Bikaner and Neemrana in Rajasthan. It involves the purchase of equity against a cash consideration and a one-time settlement of the outstanding debt.
