Tata Power Company said it has received a letter of intent from REC for the acquisition of Jejuri Hinjewadi Power Transmission, a special purpose vehicle set up to develop a key 400 kV transmission corridor in Maharashtra.

The project will be executed on a Build-Own-Operate-Transfer basis, with the SPV providing transmission services for 35 years. It involves construction of around 115 kilometres of 400 kV double-circuit transmission line between Jejuri and Hinjewadi, along with extension of 400 kV GIS line bays at both substations. The approved annual transmission charge for the project is Rs 1.56 billion, and the corridor is expected to be operational within 24 months from the date of SPV transfer.

Tata Power is engaged across the power value chain, including generation, transmission and distribution, and is progressively shifting its portfolio towards renewable energy. The company also manufactures solar rooftop systems and plans to set up 100,000 electric vehicle charging stations by 2025, positioning itself as India’s largest vertically integrated power utility.

In the second quarter of FY26, Tata Power reported a marginal decline in consolidated net profit of 0.8 per cent to Rs 9.19 billion, while revenue from operations fell 1 per cent year on year to Rs 155.45 billion. Shares of Tata Power ended 0.18 per cent higher at Rs 380.80 on the BSE.