Board of REC Ltd approves incorporation of Special Purpose Vehicle as wholly-owned subsidiary  PSU Watch Archives
News Updates

REC Board okays incorporation of SPV for setting up transmission network

REC Limited's board has approved the incorporation of project-specific special purpose vehicle (SPV) as a wholly-owned subsidiary of REC Power Development and Consultancy Limited

PSU Watch Bureau

New Delhi: State-owned REC Limited said in a regulatory filing on Saturday that its board has approved the incorporation of project-specific special purpose vehicle (SPV) as a wholly-owned subsidiary of REC Power Development and Consultancy Limited. Further, the filing noted that the SPV was incorporated for "Transmission System for Evacuation of power from RE projects in Rajgarh 1,000 MW SEZ in Madhya Pradesh-Phase II" Inter-State Transmission projects to be implemented through TBCB process.

Also read:Board of REC Ltd approves dividend for FY 2022-23

The filing also noted that the proposed SPV will also act as a subsidiary company of the REC Limited.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)

Also Read

C-DAC, Bank of India partner to develop indigenous quantum technologies for banking

NHAI issues new guidelines for smart monitoring of toilet facilities at highway toll plazas

Govt to not recover Samudra Manthan funding for dry deepwater wells

PESB recommends Yatindra Mohan for BHEL's CMD post

India’s energy future lies in producing more, depending less on imports: Indian Oil Chairman