Tata Power has acquired a 100% stake in Bikaner-III Neemrana-II Transmission Limited, a special purpose vehicle (SPV) established by PFC Consulting Limited to manage Rajasthan's renewable energy surge. This strategic move, finalized on December 27, 2023, involves a cash consideration of ₹18.6 crore and a one-time settlement of the SPV’s outstanding debt. The transmission project, estimated at ₹1,544 crore, will establish a 340 km corridor connecting the Bikaner-III pooling station to the Neemrana II substation. Scheduled for commissioning within 24 months, the project aims to evacuate 7.7 GW of renewable energy from Rajasthan’s Bikaner complex, aligning with India’s goal to integrate over 500 GW of renewable capacity into the national grid by 2030.
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