REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, the Maharatna CPSU under the aegis of Ministry of Power, handed over a project specific SPV (Special Purpose Vehicle) of ISTS Transmission Project under TBCB route viz, SR WR Power Transmission Limited to M/s Power Grid Corporation of India Limited on 17th October 2025.
M/s Power Grid Corporation of India Limited emerged as the successful bidder through Tariff-Based Competitive Bidding (TBCB) process conducted by RECPDCL, the Bid Process Coordinator, for development of the transmission project on Build, Own, Operate & Transfer (BOOT) basis.
The SPV was handed over by Shri Saurabh Rastogi, CEO, RECPDCL to Sh. Satyaprakash Dash, Company Secretary, Power Grid Corporation of India Limited in the presence of Senior Officials of RECPDCL, Power Grid Corporation of India Limited and Central Transmission Utility of India Limited. The implementation period of the project is 24 months.
The scheme covers establishment of Parli New (Maharashtra) – Bidar (Karnataka) 765 kV Double Circuit line of around 109 km.
REC Limited, a Maharatna company under the Ministry of Power, Government of India, is a leading Non-Banking Finance Company (NBFC), Public Financial Institution (PFI), and Infrastructure Financing Company (IFC) registered with the RBI. It finances the entire power infrastructure sector, including generation, transmission, distribution, renewable energy, and emerging technologies such as electric vehicles, battery storage, and green hydrogen. REC has also diversified into non-power infrastructure like roads, metro rail, airports, and IT. As the nodal agency for key government schemes like SAUBHAGAYA, DDUGJY, and RDSS, REC plays a pivotal role in advancing India’s electrification and sustainable infrastructure development.