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RECPDCL Transfers Two SPVs for Power Transmission Projects

REC Power Development and Consultancy Limited (RECPDCL), a subsidiary of REC Limited, has handed over two Special Purpose Vehicles (SPVs) to successful bidders on May 30, 2024, for power transmission projects.

The SPVs, namely Khavda IV-E2 Power Transmission Limited and NERES XVI Power Transmission Limited, are established for executing Inter-State Transmission Schemes (ISTS) initiated by the ministry of power.

Power Grid Corporation of India Limited won the bid for the ISTS scheme to evacuate power from the renewable energy zone in Gujarat’s Khavda area under Phase-IV (7 GW). Techno Electric & Engineering Company Limited was chosen for the North Eastern Region Expansion Scheme-XVI (NERES-XVI). For Techno Electric, winning the NERES XVI Power Transmission Ltd project marks the company’s re-entry into the power transmission development sector.

The Transmission Service Providers (TSPs) were selected through the Tariff-based Competitive Bidding (TBCB) process, with RECPDCL acting as the Bid Process Coordinator for both projects.

As a wholly owned subsidiary of REC, RECPDCL has been offering consultancy and project implementation services to more than 50 state power distribution companies and departments. Given its role as the bid process coordinator for three schemes, it is expected that RECPDCL will soon transfer the SPVs of the remaining two schemes namely, Rajasthan IV C Power Transmission Ltd and Rajasthan IV E Power Transmission Ltd to PGCIL.