RECPDCL Hands overs three SPVs of transmission projects to PowerGrid Corpn.

Gurugram: REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, the Maharatna CPSU has  handed over  3 project specific SPVs (Special Purpose Vehicle) of ISTS Transmission Project under TBCB route viz. Banaskantha Transco Limited, Kurnool-IV Transmission Limited & Rajasthan V Power Transmission Limited to Power Grid Corporation of India Limited on Monday.

Power Grid Corporation of India Limited  emerged as the Transmission Service Provider (TSP) through Tariff-Based Competitive Bidding (TBCB) process conducted by RECPDCL, the Bid Process Coordinator, for development of the transmission projects on Build, Own, Operate & Transfer (BOOT) basis,  acoording to a company press release.

The SPVs were handed over by comapany CEO,  T.S.C. Bosh,  of RECPDCL to Pankaj Pandey, Executive Director, Power Grid Corporation of India Limited in the presence of Senior Officials of RECPDCL, PGCIL and Central Transmission Utility of India Limited.

The scope of the 3 projects are:  i)   Banaskantha  Transco Ltd.  project covers augmentation of transformation capacity at the Banaskantha (Raghanesda),  by installing 2×500 MVA, 400/220 kV ICTs, along with associated works, at an estimated cost of ₹143.35 crore.

ii)    The Kurnool-IV Trasnsmission Ltd. project involves the establishment of a 4×1500 MVA, 765/400 kV and 4×500 MVA, 400/220 kV Kurnool-IV Pooling Station near Kurnool, Andhra Pradesh. It also includes 765 kV transmission lines spanning 375 km from Kurnool-IV to Bidar and 127 km from Kurnool-IV to Kurnool-III, along with other associated works, with an estimated cost of ₹4,727.05 crore.

iii) The Rajasthan V Power Transition Ltd. project  covers establishment of a transmission system for immediate evacuation of power from the Sirohi substation (2 GW) and transmission system for common evacuation of power from Sirohi PS (2 GW) and Merta-II PS (2 GW). The estimated cost of this project is ₹4,736.23 crore.                               The implementation for all the projects is 24 months.

RECPDCL  also handed over project specific SPV (Special Purpose Vehicle) of ISTS Transmission Project under TBCB route viz, Ratle Kiru Power Transmission Limited to IndiGrid 2 Private Limited on Friday.

RECPDCL   is  a wholly owned subsidiary of REC Limited, has been providing knowledge-based consultancy and expert project implementation services to several State power distribution companies/Power Departments of States. RECPDCL has also been implementing transmission projects in UTs of J&K and Ladakh.

REC is a ‘Maharatna’ company under the administrative control of the Ministry of Power,  is registered  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  provides loans of various maturities to State, Central and Private Companies for creation of infrastructure assets in the country.  The Loan Book of REC stands at ₹5.65 lakh crore, Market capitalization at ₹1,31,844 crore and Net Worth at ₹76,502 crores as on 31 Dec 2024.