REC transfers Musalgaon Power Transmission project to MSETCL

New Delhi: REC Limited has transferred its entire shareholding in Musalgaon Power Transmission Limited, a project-specific subsidiary, to Maharashtra State Electricity Transmission Company Limited (MSETCL), the successful bidder selected through a tariff-based competitive bidding process.

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According to a regulatory filing, REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC, transferred its entire holding of 50,000 equity shares in Musalgaon Power Transmission Limited along with all its assets and liabilities to the successful bidder on September 9, 2026.

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The transaction was completed after receipt of the necessary consideration by RECPDCL. The consideration received amounted to Rs 1,20,89,930, including taxes, and included professional fees and reimbursement of expenses.

Following the transfer, Musalgaon Power Transmission Limited ceased to be a subsidiary of both RECPDCL and REC with effect from September 9, 2026.

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