New Delhi: REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited – a Maharatna CPSE under the Ministry of Power, handed over the project-specific SPV (Special Purpose Vehicle), formed for the construction of Transmission Project viz., 'ER NER Transmission Limited' to Power Grid Corporation of India Limited, said an official statement on Wednesday.
The Power Grid Corporation of India Limited has been the successful bidder of the Inter-State Transmission Project of the Ministry of Power, Government of India, and RECPDCL was the Bid Process Coordinator.
The selection of Power Grid Corporation of India Limited was carried out through Tariff Based Competitive Bidding (TBCB) for the selection of Transmission Developers in line with the Standard Bidding Documents and Guidelines thereof as notified by the Ministry of Power, Government of India.
The work involves the establishment of 2 X 500 MVA ICT (AIS) at Banka along with associated works, the upgradation of Namsai , and associated works including around 77 Kms of 220 kV double circuit transmission lines. The project for implementation is targeted in 36 months.
With the handing over of the above SPV, RECPDCL successfully handed over 41 transmission projects now costing around ₹54,642 crore under the TBCB route.
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