REC Subsidiary handed over SPV to Tata Power

REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, the Maharatna CPSU under the aegis of the Ministry of Power, has handed over the project-specific SPV (Special Purpose Vehicle). viz, ERES-XXXIX Power Transmission Limited to Tata Power Company Limited on 14th November 2024 at Gurugram.

Join PSU Connect on WhatsApp now for quick updates! Click here

Read Also : Karur Vysya Bank inaugurates 4 new branches today

The Tata Power Company Limited emerged as the Transmission Service Provider (TSP) through a Tariff-Based Competitive Bidding (TBCB) process conducted by RECPDCL, the Bid Process Coordinator, for the development of the transmission project on Build, Own, Operate & Transfer (BOOT) basis.

Read Also : Defense Stock, BEML surges over by 4.2%, here is price target for PSU stock

The scheme covers the establishment of 765/400 kV, 2 X1500 MVA GIS substation at Gopalpur in Odisha, 199 Kms of 765 kV line and 25 Kms of 400 kV line along with associated works.

The SPV was handed over by Shri T.S.C. Bosh, CEO, of RECPDCL to Shri Tarun Katiyar, CEO, of Tata Power Trading Company Limited in the presence of Senior Officials of RECPDCL, Tata Power Company Limited and Central Transmission Utility of India Limited. The project is targeted for implementation by December 2027.

Read Also : Indian Overseas Bank to receive Rs 1,359-crore income tax refund