REC’s Subsidiary RECPDCL Hands Over Two Special Purpose Vehicles of Transmission Projects to Power Grid Corporation of India Limited
(Judicial Quest News Network)
REC Power Distribution Company Limited (RECPDCL), a wholly owned subsidiary of REC Limited under Ministry of Power, handed over two projects specific Special Purpose Vehicles (SPVs) ‘Fatehgarh Bhadla Transco Limited’ & ‘Sikar New Transmission Limited’ to M/s Power Grid Corporation of India Limited yesterday in the presence of CEO & Jt. CEO, RECPDCL and officials from Power Grid Corporation of India Limited.
The selection of M/s Power Grid Corporation of India Limited was carried out through Tariff Based Competitive Bidding (TBCB) for selection of Transmission Developers in line with the Standard Bidding Documents and Guidelines thereof as notified by Ministry of Power, Government of India.
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 type of projects includes Generation, Transmission, Distribution Projects, and Renewable Energy projects.