REC Ltd subsidiary transfers two project specific SPVs to successful bidders

 REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of PSU REC Limited, handed over two project-specific SPVs (Special Purpose Vehicles) namely, Khavda IV-E2 Power Transmission Limited and NERES XVI Power Transmission Limited formed for the implementation of Inter-State Transmission Schemes of Ministry of Power for “Transmission System for Evacuation of Power from potential renewable energy zone in Khavda area of Gujarat under Phase- IV(7 GW): Part E2” and “North Eastern Region Expansion Scheme-XVI (NERES-XVI)” respectively.

 Power Grid Corporation of India Limited emerged as the successful bidder concerning the ISTS scheme “Transmission System for Evacuation of Power from Potential Renewable Energy Zone in Khavda area of Gujarat under Phase- IV (7 GW): Part E2” and Techno Electric & Engineering Company Limited was selected as the successful bidder for the “North Eastern Region Expansion Scheme-XVI (NERES-XVI)”.

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The respective Transmission Service Providers (TSPs) were selected via the Tariff-based Competitive Bidding (TBCB) process. RECPDCL was the Bid Process Coordinator for both projects.

The SPVs were handed over to the successful bidders in the presence of Shri P. S. Hariharan, Chief General Manager & HOD (Transmission), RECPDCL, and other senior officials of RECPDCL & CTUIL.

 

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