New Delhi: REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, the NBFC Maharatna CPSU under the aegis of the Ministry of Power, handed over the project-specific SPV (Special Purpose Vehicle), formed for the construction of Transmission Project viz., ‘Beawar Transmission Limited to Sterlite Grid 27 Limited on Wednesday, according to a company press note.
The selection of Sterlite Grid 27 Limited was carried out through Tariff Based Competitive Bidding (TBCB) carried out by RECPDCL for selection of Transmission Service Provider in line with the Standard Bidding Documents and Guidelines thereof as notified by Ministry of Power, Government of India.
The SPV works is associated with the ambitious 500 GW RE plan of the Government of India. The work involves implementation of 765/400 kV sub-station at Beawar along with 765 kV double circuit and associated 400 kV line in state of Rajasthan. The project for implementation is targeted in 18 months. After implementation, it would help in the evacuation of RE power from Renewable Energy Zones (REZs) is state of Rajasthan.
The SPV has been handed over by V.K. Singh, Director (Projects), RECL/ Director, RECPDCL to Tatimakula Amarendranath Reddy, Executive Vice President on behalf of M/s Sterlite Grid 27 in the presence of Rajesh Kumar, CEO-RECPDCL, Jasbir Singh, CGM, CTUIL and other senior officials of RECPDCL, CTUIL & Sterlite.
With the handing over of the above SPV, RECPDCL successfully handed over 53 transmission projects till now costing around Rs 72,170 crores.