REC Ltd Forms Apta Power Transmission for Raigad Project

NEW DELHI | December 25, 2025 — Maharatna PSU REC Limited has announced the incorporation of a new wholly-owned subsidiary, Apta Power Transmission Limited. The entity has been created to execute a major intra-state transmission project in Maharashtra.

In a regulatory filing on Thursday, the company confirmed that the subsidiary was officially incorporated on December 24, 2025, through its consultancy arm, REC Power Development and Consultancy Limited (RECPDCL).

Key Project Details

The new company will focus on the establishment of a 765/400/220kV Air Insulated Substation (AIS) at Apta in the Raigad district. This move follows a Maharashtra Government order dated October 3, 2025, which appointed RECPDCL as the Bid Process Coordinator (BPC).

Authorized Capital: ₹5,00,000
Paid-up Capital: ₹5,00,000
Location: Raigad, Maharashtra
Sector: Power Transmission

Strategic Importance

The Apta project is a critical addition to Maharashtra's power grid. It will be awarded via the Tariff Based Competitive Bidding (TBCB) route. Once a successful bidder is identified, the SPV (Apta Power Transmission Ltd) will be transferred to the winning developer along with all assets and liabilities.

This structure allows the government to fast-track infrastructure development by handling all preliminary clearances and land identification through the SPV before handing it over to private or public developers.

Corporate Governance

REC Limited clarified that the incorporation was done at "arm's length" and the promoters have no interest in the new entity except for their shareholding. The acquisition was completed through a 100% cash subscription to equity shares at face value.