REC’s subsidiary RECPDCL handed over SPV projects to IndiGrid

A consortium of IndiGrid 1 Limited and IndiGrid 2 Limited has been the successful bidder of the Inter-State Transmission Project of Ministry of Power, GoI, and RECPDCL as the Bid Process Coordinator.

REC’s subsidiary RECPDCL handed over SPV projects to IndiGrid

New Delhi: REC Power Development and Consultancy Limited (RECPDCL), a wholly-owned subsidiary of REC Limited, the NBFC Navaratna CPSU under the aegis of Ministry of Power, handed over the project-specific SPV (Special Purpose Vehicle) formed for the construction of Transmission Project viz., ‘Transmission system for evacuation of power from RE projects in Osmanabad area (1 GW) in Maharashtra’ to Consortium of IndiGrid 1 Limited and IndiGrid 2 Limited on 28th December 2021.

A consortium of IndiGrid 1 Limited and IndiGrid 2 Limited has been the successful bidder of the Inter-State Transmission Project of Ministry of Power, GoI, and RECPDCL as the Bid Process Coordinator.

The SPV has been handed over by Shri R. Lakshmanan, CEO, RECPDCL, and Sh. T S C Bosh, Jt. CEO, RECPDCL to Shri Bigyan Parija from IndiGrid 1 Limited and Shri Aditya Kislay from IndiGrid 2 Limited in the presence of other senior officials of RECPDCL, IndiGrid 1 Limited, and IndiGrid 2 Limited.

The selection of successful bidder was carried out through Tariff Based Competitive Bidding (TBCB) process for selection of Transmission Developers in line with the Standard Bidding Documents and Guidelines thereof as notified by Ministry of Power, Government of India. The work involves the establishment of 400/220 kV Sub-station at Kallam and LILO of 400 kV double circuit Parli – Pune transmission line. The project is targeted for completion in 18 months.

About REC Limited: REC Limited is a Navratna NBFC focusing on Power Sector Financing and Development across India. Established in 1969, REC Limited has completed over fifty years in the area of its operations. It provides financial assistance to state electricity boards, state governments, central/state power utilities, independent power producers, rural electric cooperatives, and private sector utilities. Its business activities involve financing projects in the complete power sector value chain; different types of projects include Generation, Transmission, Distribution, and Renewable Energy segments. REC’s funding illuminates every fourth bulb in India.