Gurugram, 30th May: REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, handed over two project specific SPVs (Special Purpose Vehicles) on 30th May 2024, namely, Khavda IV-E2 Power Transmission Limited and NERES XVI Power Transmission Limited formed for the implementation of Inter-State Transmission Schemes of Ministry of Power for “Transmission System for Evacuation of Power from potential renewable energy zone in Khavda area of Gujarat under Phase- IV(7 GW): Part E2” and “North Eastern Region Expansion Scheme-XVI (NERES-XVI)” respectively’.
M/s Power Grid Corporation of India Limited emerged as the successful bidder with respect to the ISTS scheme “Transmission System for Evacuation of Power from potential renewable energy zone in Khavda area of Gujarat under Phase- IV (7 GW): Part E2” and M/s Techno Electric & Engineering Company Limited was selected as the successful bidder for the “North Eastern Region Expansion Scheme-XVI (NERES-XVI)”.
The respective Transmission Service Providers (TSPs) were selected via Tariff-based Competitive Bidding (TBCB) process. RECPDCL was the Bid Process Coordinator for both the projects.
The SPVs were handed over to the successful bidders in presence of Shri P. S. Hariharan, Chief General Manager & HOD (Transmission), RECPDCL and other senior officials of RECPDCL & CTUIL.
About RECPDCL:
REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, has been providing knowledge-based consultancy and expert project implementation services to more than 50 State power distribution companies/Power Departments of States. RECPDCL has been acting as Bid Process Coordinator (BPC) for Tariff Based Competitive Bidding (TBCB) in Transmission Line Projects & RE-Bundling projects. Under PMDP projects, RECPDCL has been executing critical infrastructure upgradation projects in distribution and transmission sectors in the UT of J&K and Ladakh.
ABOUT REC LIMITED:
REC is a 'Maharatna' company under the administrative control of the Ministry of Power, Government of India, and is registered with RBI as Non-Banking Finance Company (NBFC), Public Financial Institution (PFI) and Infrastructure Financing Company (IFC). REC is financing the entire Power-Infrastructure sector comprising Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage, Pump Storage projects, Green Hydrogen, Green Ammonia projects etc. More recently REC Limited has also diversified into the Non-Power Infrastructure sector comprising Roads & Expressways, Metro Rail, Airports, IT Communication, Social and Commercial Infrastructure (Educational Institution, Hospitals), Ports and Electro-Mechanical (E&M) works in respect of various other sectors like Steel, Refinery, etc. REC Limited provides loans of various maturities to State, Central and Private Companies for creation of infrastructure assets in the country.
REC Limited continues to play a key strategic role in the flagship schemes of the Government for the power sector and has been nodal agency for Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGAYA), Deen Dayal Upadhaya Gram Jyoti Yojana (DDUGJY), National Electricity Fund (NEF) Scheme which resulted in strengthening of last mile distribution system, 100% village electrification and household electrification in the country. REC has also been made the nodal agency for 19 States and Union Territories for the Revamped Distribution Sector Scheme (RDSS). REC has also been made National Program Implementation Agency (PIA) of PM Surya Ghar Muft Bijli Yojna. The loan book of REC stands at ₹ 5.09 lakh crore and Net Worth at Rs. ₹ 68,783 crore as on 31 March, 2024.
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