REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, the NBFC Maharatna CPSE under the Ministry of Power, has handed over a project-specific SPV (Special Purpose Vehicle) to M/s G R Infraprojects Private Limited. The SPV was formed for the establishment of Inter State Transmission Project for “Evacuation of Power from RE Projects in Rajgarh (1000 MW) SEZ in Madhya Pradesh – Phase II” through Tariff-based Competitive Bidding process.
The SPV, named Pachora Power Transmission Limited, has been handed over to the successful bidder, M/s G R Infraprojects Private Limited, in the presence of senior officials from RECPDCL. Additionally, representatives from the Central Transmission Utility of India Limited (CTUIL) and other key stakeholders attended the event to witness this significant milestone.
CEO, RECPDCL, Shri Rajesh Kumar said: “In line with the visionary directions of Power Minister and Power Secreary, RECPDCL is putting in all possible efforts to ensure the growth of renewable power reforms to cater to the electricity demand of the country. Tariff-based Competitive Bidding for the development of transmission system for evacuation of RE power is one such noble mission and RECPDCL is privileged to be a Bid Process Coordinator for award of projects through TBCB route.”
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 and RE-Bundling projects. Under Prime Minister’s Development Package projects, RECPDCL has been executing critical infrastructure upgradation projects in distribution and transmission sectors in the UT of J&K and Ladakh. With its expert consulting, project implementation and transaction advisory services, RECPDCL is thus playing a key role across the power sector value chain of the country.