New Delhi: REC Limited on Tuesday announced that it has incorporated 'Dharashiv Power Transmission Limited' as a wholly owned subsidiary of REC Power Development and Consultancy Limited (RECPDCL), which is itself a wholly owned subsidiary of REC, for establishment of 400 kV Dharashiv transmission infrastructure project.

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According to the REC, the company has been incorporated for the establishment of the 400 kV GIS Solapur/Paranda Switching Station in Dharashiv district, Maharashtra. The project was allocated by the Government of Maharashtra through a Gazette notification dated February 27, 2026, under which RECPDCL was appointed as the Bid Process Coordinator (BPC).

In a regulatory filing to the stock exchanges, REC informed that the Dharashiv Power Transmission was incorporated on July 21, 2026, with an authorised capital of Rs 5 lakh and a paid-up capital of Rs 5 lakh. As a newly incorporated company, it has not yet commenced business and therefore has no turnover.

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REC said that after the selection of the successful transmission service provider through the Tariff Based Competitive Bidding (TBCB) process, Dharashiv Power Transmission Limited will be transferred to the successful bidder along with all its assets and liabilities.

The filing added that RECPDCL has subscribed to 100 percent of the equity share capital of the company in cash at face value. RECPDCL acts as the Bid Process Coordinator for selecting transmission service providers for independent inter-state and intra-state transmission projects assigned by the Ministry of Power and state governments.

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