Mumbai/New Delhi: REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, has successfully completed the handover of two Special Purpose Vehicles (SPVs) for major intra-state transmission projects in Maharashtra. The handover took place on January 9, 2026, under the Tariff-Based Competitive Bidding (TBCB)mechanism, marking another step towards strengthening the state’s power transmission network.
REC Limited is a Maharatna Central Public Sector Undertaking (CPSU) under the Ministry of Power, and RECPDCL acts as a key nodal agency for developing transmission projects through a transparent and competitive bidding process. Both projects will be developed on a Build, Own, Operate and Transfer (BOOT) basis, with an implementation period of 24 months.
Velgaon Project Awarded to Ceigall India
One of the SPVs, Velgaon Power Transmission Limited, has been handed over to Ceigall India Limited, which emerged as the successful bidder through the TBCB process conducted by RECPDCL as the Bid Process Coordinator.
The formal handover was carried out by Vijay Kulkarni, Senior General Manager and Head of Department (Transmission & Distribution), RECPDCL, to Dr. Sudhir Rao Hoshing, Whole-time Director of Ceigall India Limited. Senior officials from RECPDCL, Ceigall India and the Maharashtra State Transmission Utility (STU) were present during the handover ceremony.
The Velgaon project includes the construction of a 400/220 kV Gas Insulated Substation (GIS) at Velgaon. It also involves Line-In Line-Out (LILO) works of 400 kV double-circuit and 220 kV double-circuit and single-circuit transmission lines, along with other associated infrastructure. Once completed, the project will play a key role in improving power flow and grid stability in the region.
Tata Power Takes Over Jejuri–Hinjewadi Project
On the same day, RECPDCL also handed over another SPV, Jejuri Hinjewadi Power Transmission Limited, to The Tata Power Company Limited, which was selected as the successful bidder under the TBCB route.
The SPV was formally transferred by Vijay Kulkarni to Piyush Kumar, Head – Business Development (T&D International), Tata Power, in the presence of senior officials from RECPDCL, Tata Power and the Maharashtra STU.
This project involves the construction of a 400 kV double-circuit transmission line of around 115 kilometres, connecting Jejuri to Hinjewadi, along with related infrastructure works. The project is expected to significantly enhance power evacuation and support growing industrial and urban demand in the Pune region.
The successful handover of these two SPVs once again underlines RECPDCL’s role in developing power transmission infrastructure through a fair and competitive bidding framework, helping ensure reliable and efficient electricity supply in Maharashtra.
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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