REC Unit Transfers Ryapte Power Shares Worth ₹108.7 Million to Tata Power

NEW DELHI, July 30, 2026 — REC Power Development and Consultancy Limited (RECPDCL), a wholly-owned subsidiary of state-run REC Limited, has officially transferred 100 percent of its equity shares in project-specific Special Purpose Vehicle (SPV) Ryapte Power Transmission Limited to Tata Power Company Limited. According to regulatory disclosures submitted to Indian stock exchanges on Thursday, July 30, 2026, the equity transfer was executed for a total consideration of 108.7 million rupees (₹10.87 crore). The share transfer marks the formal acquisition of the SPV by Tata Power, which secured the project under the Tariff-Based Competitive Bidding (TBCB) framework.

SPV Transfer Details and Transaction Breakdown

The official share transfer follows the Letter of Intent (LoI) issued by RECPDCL in June 2026 after Tata Power emerged as the successful bidder for the intrastate transmission scheme in Karnataka. Under the transaction terms, all issued share capital of Ryapte Power Transmission Limited—which was incorporated by RECPDCL to act as the project vehicle—has been assigned to Tata Power at an aggregate value of ₹108.7 million.

With the completion of the SPV transfer, Tata Power assumes complete operational and financial responsibility for developing, owning, and operating the project infrastructure on a Build-Own-Operate-Transfer (BOOT) model.

Project Scope, Capacity, and Transmission Assets

The Ryapte Power Transmission project involves establishing an extensive power transmission network spanning approximately 250 kilometers across Karnataka. The infrastructure will strengthen grid connectivity across Tumkur, Kolar, and Bengaluru Rural districts, serving growing regional industrial and residential demand.

According to technical specifications released by RECPDCL, the project elements include:

1. Substations: Construction of a greenfield 400/220 kV Air-Insulated Substation (AIS) at Ryapte in Tumkur district (5x500 MVA capacity) and a 400/220 kV Gas-Insulated Substation (GIS) at Doddathaggalli near Hosakote (3x500 MVA capacity).

2. Transmission Lines: Installation of 400 kV double-circuit overhead lines connecting Ryapte AIS to Doddathaggalli GIS, along with a 400 kV double-circuit line linking the existing Kolar substation to Doddathaggalli.

3. Underground Cabling: 220 kV double-circuit overhead lines and underground cable links connecting Doddathaggalli to substations in Ekarajapura, Hosakote, and Sarjapura.

Timelines and Operational Revenue Visibility

The Scheduled Commercial Operation Date (SCOD) for the Ryapte project is fixed at 30 months from the SPV transfer date. Upon successful commissioning, Tata Power will provide regulated transmission services under a 35-year Transmission Service Agreement (TSA), earning annual transmission charges of ₹521.07 crore.

Market equity analysts note that the formal transfer expands Tata Power's regulated asset portfolio, adding steady cash flows while establishing its operational transmission footprint in Karnataka.

Official Sources Section

According to official corporate filings submitted by REC Limited and Tata Power Company Limited under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, the share transfer transaction was executed strictly under statutory competitive bidding guidelines. Regulatory filings were formally logged with BSE Limited and the National Stock Exchange of India.

Quote Section

"According to officials and corporate disclosures, the formal share acquisition transitions the project from the bid coordinator to the long-term developer, kicking off the 30-month construction timeline for the grid expansion project."

Why It Matters

The transfer of Ryapte Power Transmission Limited enables immediate execution of critical power grid infrastructure in Karnataka. For energy consumers and commercial industries, the added 250 km network and high-capacity substations will improve grid reliability and power evacuation, while providing Tata Power with a 35-year annuity-style revenue stream.

Key Facts at a Glance

• Share Transfer: RECPDCL transfers 100% equity of Ryapte Power Transmission SPV to Tata Power for ₹108.7 million.

• Annual Revenue Potential: Project yields annual transmission charges of ₹521.07 crore for 35 years.

• Infrastructure Scope: Involves constructing 250 km of lines and two greenfield 400/220 kV substations in Karnataka.

• Project Timeline: Construction targeted for completion within 30 months from SPV transfer.

Frequently Asked Questions (FAQs)

What is the value of the Ryapte Power Transmission equity transfer?

RECPDCL transferred 100% equity shares of Ryapte Power Transmission Limited to Tata Power for ₹108.7 million (₹10.87 crore).

What are the expected annual revenues for Tata Power from this project?

The project carries fixed annual transmission charges of ₹521.07 crore under a 35-year Transmission Service Agreement.

Where is the transmission project located?

The infrastructure is located across Karnataka, covering Tumkur, Kolar, and Bengaluru Rural districts.

Where can investors verify official disclosures regarding this acquisition?

Official corporate filings are available on the web portals of BSE Limited, the National Stock Exchange of India, REC Limited, and Tata Power Company Limited.

Source: REC Limited, Tata Power Company Limited, BSE Limited, National Stock Exchange of India, Ministry of Power