REC Power Development and Consultancy Limited [RECPDCL], a wholly owned subsidiary of REC Limited, handed over five Inter State Transmission Project, which is Special Purpose Vehicles (SPVs), to the NBFC Maharatna center public sector enterprise under the aegis of Ministry of Power through tariff-based competitive bidding process.
M/s Power Grid Corporation of India Limited (PGCIL), M/s Indigrid 2 Limited & Indigrid 1 Limited (Consortium) and M/s Apraava Energy Private Limited emerged as the successful bidders for the ISTS Transmission Projects of Ministry of Power, Government of India. RECPDCL was the Bid Process Coordinator.
The SPVs were handed over to the successful bidders in presence of CEO, RECPDCL, Mr. Rajesh Kumar and senior officials of RECPDCL, REC Limited, PGCIL, Central Electricity Authority (CEA) & CTUIL, on 9 February, 2024.
Chief Executive Officer, RECPDCL Mr. Rajesh Kumar said: “In line with the visionary directions of Union Minister for Power and New & Renewable Energy Mr. R. K. Singh and Power Secretary Mr. Pankaj Agarwal, 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 (TBCB) for the development of transmission system for evacuation of renewable energy is one such noble mission and RECPDCL is privileged to be a Bid Process Coordinator for award of projects through the TBCB route.”
On the occasion, RECPDCL also handed over Letters of Award (LOAs) to successful bidders, namely, M/s Avaada Energy Private Limited and M/s Juniper Green Energy Private Limited, for setting up 100 MW wind power projects of Damodar Valley Corporation. These LOAs have been given under the “Scheme for flexibility in Generation and Scheduling of Thermal/Hydro Power Stations through bundling with Renewable Energy and Storage Power” of the Ministry of Power.
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.
