New Delhi: In a significant development in India’s power transmission sector, Adani Energy Solutions Limited has acquired WRNES Talegaon Power Transmission Limited, a project-specific Special Purpose Vehicle (SPV), from REC Power Development and Consultancy Limited (RECPDCL), a wholly-owned subsidiary of REC Limited.
According to an official filing made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, RECPDCL has transferred its entire shareholding—comprising 50,000 equity shares—in WRNES Talegaon Power Transmission Ltd to Adani Energy Solutions at par value. The transfer was executed on May 30, 2025, along with all associated assets and liabilities.
The transaction was carried out through a tariff-based competitive bidding process, and the share purchase agreement was signed on the same date. The total consideration received includes a professional fee of ₹14.55 crore along with reimbursement of related expenses.
WRNES Talegaon Power Transmission Ltd, now fully owned by Adani Energy Solutions, ceases to be a subsidiary of RECPDCL and, by extension, REC Limited from the effective date of transfer.
The company clarified that the successful bidder, Adani Energy Solutions, does not belong to the promoter or promoter group of REC or RECPDCL. The transaction is not categorized as a related party transaction and does not fall within the ambit of a slump sale or a scheme of arrangement. Furthermore, the consideration was determined in line with the guidelines issued by the Ministry of Power, Government of India.
This move aligns with RECPDCL’s strategic focus on competitive bidding and efficient asset monetisation in India’s evolving power infrastructure landscape.
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