New Delhi: REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited has handed over the project-specific Special Purpose Vehicle (SPV), formed for the construction of transmission project viz., ‘Ramgarh II Transmission Limited to Power Grid Corporation of India (PGCIL) Limited on October 26.
According to REC, the selection of Power Grid was carried out through tariff based competitive bidding (TBCB) carried out by RECPDCL for the selection of a transmission service provider in line with the standard bidding documents and guidelines thereof as notified by the Ministry of Power.
The SPV work is associated with the ambitious 500 GW RE plan of the Government of India. The work involves the implementation of a 765/400kV & 2x500 MVA 400/220 kV pooling station at Ramgarh along with 765kV D/c line (Ramgarh PS to Bhadla-3 PS) in state of Rajasthan. The project for implementation is targeted in 18 months. After implementation, it would help in the evacuation of renewable energy power from renewable energy zones (REZs) is the state of Rajasthan.
The SPV has been handed over by RECPDCL's CEO Rajesh Kumar to Power Grid's Executive Director Pankaj Pandey in the presence of CTUIL's Executive Director Jasbir Singh; RECPDCL's Chief General Manager PS Hariharan and other senior officials of RECPDCL, CTUIL & Power Grid.
With the handing over of the above SPV, RECPDCL successfully handed over 54 transmission projects till now costing around Rs 75,000 crore.