New Delhi: REC Limited has informed the stock exchanges about the incorporation of three wholly owned subsidiary companies on October 23, 2026, to facilitate the development of power transmission infrastructure in Rajasthan and Uttar Pradesh.
The newly incorporated companies are Bikaner V Part C Power Transmission Limited, Bikaner V Part D Power Transmission Limited and YEIDA Power Transmission Limited. These entities have been established through REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited.
Each company has an authorised and paid-up capital of ₹5 lakh and has yet to commence business operations.
The companies have been established as Special Purpose Vehicles (SPVs) for specific power transmission schemes, with RECPDCL acting as the Bid Process Coordinator (BPC) for all three projects.
REC Limited’s Three Newly Incorporated Subsidiaries
The three companies have been formed to facilitate the implementation of transmission infrastructure projects through the tariff-based competitive bidding mechanism.
The newly incorporated entities are:
- Bikaner V Part C Power Transmission Limited: Established for an interstate power transmission scheme under Rajasthan Renewable Energy Zone (REZ) Phase IV, Part 6.
- Bikaner V Part D Power Transmission Limited: Established for the same broader interstate transmission scheme associated with the Bikaner Complex.
- YEIDA Power Transmission Limited: Established for an intrastate transmission project involving a high-capacity substation and associated transmission infrastructure in Uttar Pradesh.
Each company has an authorised capital of ₹5 lakh and a paid-up capital of ₹5 lakh. As newly incorporated entities, they have not yet commenced business operations or generated operational turnover.
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Bikaner V Part C and Part D Power Transmission Projects
Bikaner V Part C Power Transmission Limited and Bikaner V Part D Power Transmission Limited have been incorporated to support the interstate transmission scheme under Rajasthan REZ Phase IV, Part 6, involving a capacity of 6 GW in the Bikaner Complex.
The two entities were formed following a Ministry of Power Gazette notification dated June 19, 2026.
The transmission scheme is associated with the development of infrastructure required to evacuate renewable energy generated in the Rajasthan Renewable Energy Zone. Such infrastructure plays an important role in transferring electricity from renewable energy generation centres to the wider power grid.
RECPDCL will coordinate the bidding process for the projects. After the selection of successful bidders under the tariff-based competitive bidding framework, the respective SPVs will be transferred to the selected developers.
YEIDA Power Transmission Limited: 400/220 kV GIS Substation Project
YEIDA Power Transmission Limited has been incorporated to facilitate an intrastate power transmission project in Uttar Pradesh.
The project involves the construction of a 400/220 kV, 3×500 MVA gas-insulated switchgear (GIS) substation at Sector 28, YEIDA, in Gautam Buddha Nagar, along with associated transmission lines and bays.
The entity was formed following a letter dated August 10, 2026, from Uttar Pradesh Power Transmission Corporation Limited.
The proposed substation and associated infrastructure are intended to strengthen the regional transmission network and support electricity transmission requirements in the project area.
RECPDCL will act as the Bid Process Coordinator for this project as well. Following the selection of the successful bidder through the prescribed competitive bidding process, YEIDA Power Transmission Limited will be transferred to the selected developer.
Transfer of Subsidiaries After Competitive Bidding
All three companies have been established as Special Purpose Vehicles for implementing the identified transmission schemes.
RECPDCL is responsible for coordinating the bidding process under the Tariff-Based Competitive Bidding (TBCB) guidelines. Once the successful bidders are selected, the respective SPVs will be transferred to them along with the associated assets and liabilities, in accordance with the applicable process.
This mechanism enables the development of transmission projects through competitive bidding and allows the selected developers to take responsibility for implementing the schemes.
The incorporation of the three subsidiaries marks a preparatory step towards developing the planned transmission infrastructure in Rajasthan and Uttar Pradesh.
About REC Limited
REC Limited is a Government of India public sector enterprise under the Ministry of Power. The company provides financial assistance for power-sector infrastructure projects across India, including generation, transmission, distribution and renewable energy. Through its subsidiary RECPDCL, REC also facilitates the development of power transmission projects and related infrastructure through competitive bidding.
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