New Delhi: REC Limited, a Government of India enterprise and leading NBFC in the power sector, has announced the incorporation of three new wholly-owned subsidiaries through its subsidiary REC Power Development and Consultancy Limited (RECPDCL). The move is aimed at facilitating large-scale transmission infrastructure projects under the Tariff Based Competitive Bidding (TBCB) framework.
New Subsidiaries Formed
The newly incorporated entities are:
- Dholpur Power Transmission Limited
- Jaisalmer Power Transmission Limited
- Ranipur Chunar Power Transmission Limited
All three companies have been established as wholly-owned subsidiaries of RECPDCL and, by extension, REC Limited, in accordance with Section 2(87) of the Companies Act, 2013.
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Project Background and Scope
The incorporation of these special purpose vehicles (SPVs) follows government allocations for major intra-state power transmission projects:
- Rajasthan Projects:
- 400/220 kV Grid Sub-Station at Dholpur with associated transmission lines
- 765 kV Grid Sub-Station at Jaisalmer (Teliwara) and its transmission network
- 400/220 kV Grid Sub-Station at Dholpur with associated transmission lines
- Uttar Pradesh Projects:
- 220/132/33 kV AIS Substation at Ranipur (Mau)
- 220/132/33 kV AIS Substation at Chunar (Mirzapur) with associated transmission lines
- 220/132/33 kV AIS Substation at Ranipur (Mau)
RECPDCL has been appointed as the Bid Process Coordinator (BPC) for these projects by the respective state authorities. The newly formed SPVs will manage the bidding process under TBCB guidelines. After successful bids, the SPVs, along with their assets and liabilities, will be transferred to the selected developers.
Company Structure and Capital
Each SPV has an authorized and paid-up capital of ₹5 lakh. REC Limited, through RECPDCL, has subscribed to 100% of the equity capital in cash at face value. As the entities are newly incorporated, they have not yet commenced commercial operations and currently have no turnover.
Strengthening India’s Power Infrastructure
The creation of these project-specific companies underscores REC Limited’s commitment to strengthening India’s power transmission sector. By facilitating the development of large-scale, modern transmission systems, REC supports reliable electricity supply, technological advancement, and long-term energy security for the nation.
About REC Limited
REC Limited is a Government of India enterprise and a leading financial institution in the power sector. The company focuses on providing financial and consultancy support for power generation, transmission, and distribution projects across India, contributing significantly to the country’s energy security and sustainable development goals.
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