REC arm transfers 2 power transmission SPVs to successful bidders

New Delhi: REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, has handed over two projects specific SPVs namely - Khavda IV-E2 Power Transmission and NERES XVI Power Transmission to Power Grid and Techno Electric respectively on Thursday.

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In an official statement REC Limited said that RECPDCL has handed over two Project Specific Special Purpose Vehicles namely - Khavda IV-E2 Power Transmission Limited and NERES XVI Power Transmission Limited formed for the implementation of Inter-State Transmission Schemes of Ministry of Power for “Transmission System for Evacuation of Power from potential renewable energy zone in Khavda area of Gujarat under Phase- IV(7 GW): Part E2” and “North Eastern Region Expansion Scheme-XVI (NERES-XVI)” respectively’.

Power Grid emerged as the successful bidder with respect to the ISTS scheme “Transmission System for Evacuation of Power from potential renewable energy zone in Khavda area of Gujarat under Phase- IV (7 GW): Part E2” and Techno Electric & Engineering Company Limited was selected as the successful bidder for the “North Eastern Region Expansion Scheme-XVI (NERES-XVI)”.

The respective Transmission Service Providers (TSPs) were selected via Tariff-based Competitive Bidding (TBCB) process. RECPDCL was the Bid Process Coordinator for both the projects.

The SPVs were handed over to the successful bidders in presence of RECPDCL’s Chief General Manager & HOD (Transmission) PS Hariharan and other senior officials of RECPDCL and CTUIL.

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