New Delhi: State-run REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power, has announced the incorporation of a new wholly-owned subsidiary, Mekhali Power Transmission Limited, through its arm REC Power Development and Consultancy Limited (RECPDCL).
This information has been shared by the Maharatna power PSU in a regulatory filing to the stock exchanges on Tuesday.
According to company's filing to the stock exchanges, the newly incorporated entity, Mekhali Power Transmission Limited, has an authorized and paid-up capital of Rs 5 lakh and is yet to commence operations.
This strategic move follows an allocation by the Energy Department of the Government of Karnataka, which, through an order dated March 4, 2025, assigned RECPDCL the role of Bid Process Coordinator (BPC) for the development of a 400 kV substation at Mekhali, along with associated transmission lines in Belagavi district.
As per the mandate, Mekhali Power Transmission Limited will serve as the project-specific vehicle (SPV) for implementing the intra-state transmission project. Once the bidding process—based on the Tariff-Based Competitive Bidding (TBCB) guidelines—is concluded and a successful bidder is selected, the company will be transferred along with all its assets and liabilities to the winning entity.
REC confirmed that Mekhali Power Transmission Limited qualifies as a related party, being a wholly-owned subsidiary of RECPDCL, which itself is wholly owned by REC Limited. However, the promoter group has no interest in the entity beyond its shareholding.
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