Gurugram, 30th May: REC Power Development and Consultancy Limited (RECPDCL) handed over two project-specific Special Purpose Vehicles (SPVs), Khavda IV-E2 Power Transmission Limited and NERES XVI Power Transmission Limited (North Eastern Region Expansion Scheme-XVI). These SPVs were created for the implementation of Inter-State Transmission Schemes (ISTS) by the Ministry of Power.
The Khavda IV-E2 project focuses on the transmission system for evacuating power from a potential renewable energy zone in the Khavda area of Gujarat under Phase-IV (7 GW): Part E2. The NERES XVI project pertains to the North Eastern Region Expansion Scheme-XVI (NERES-XVI). The ISTS system allows electricity generated from any energy source to be transported across state borders using grid transmission lines.
RECPDCL, a subsidiary of REC Limited, provides consultancy and project implementation services to over 50 state power distribution companies and power departments. The company also acts as a Bid Process Coordinator (BPC) for Tariff Based Competitive Bidding (TBCB) in Transmission Line Projects & RE-Bundling projects and manages infrastructure upgrade projects in the distribution and transmission sectors for the Union Territories of Jammu & Kashmir and Ladakh.
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 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.
REC is a ‘Maharatna’ company under the Ministry of Power, Government of India. Registered with RBI as a Non-Banking Finance Company (NBFC), Public Financial Institution (PFI), and Infrastructure Financing Company (IFC), REC finances the power infrastructure sector, including generation, transmission, distribution, renewable energy, and new technologies like electric vehicles and green hydrogen. Recently, REC has diversified into non-power infrastructure sectors such as roads, metro rail, airports, and educational institutions. REC plays a strategic role in government schemes like SAUBHAGAYA, DDUGJY, NEF, RDSS, and PM Surya Ghar Muft Bijli Yojna. As of March 31, 2024, REC’s loan book is ₹5.09 lakh crore, with a net worth of ₹68,783 crore.
