RECPDCL hands over Gadag Transmission Ltd Project SPV to ReNew

New Delhi: REC Power Development and Consultancy Limited (RECPDCL), a wholly-owned subsidiary of REC Limited, has handed over the project-specific SPV (Special Purpose Vehicle) formed for the construction of transmission project viz., 'Transmission Scheme for Solar Energy Zone in Gadag (2500 MW), Karnataka – Part A to ReNew Transmission Ventures Private Limited on March 17, REC said in an official statement.

RECPDCL acted as the Bid Process Coordinator for the project and successfully handed over the Inter-State Transmission Project of the Ministry of Power to ReNew Transmission Ventures Private Limited.

The SPV was handed over by RECPDCL CEO R Lakshmanan and Joint CEO TSC Bosh to Amit Kumar, Head Transmission Bidding from ReNew Transmission Ventures Private Limited in the presence of other senior officials of RECPDCL and ReNew Transmission Ventures Private Limited, the statement added.

The selection of successful bidder was carried out through the Tariff Based Competitive Bidding (TBCB) process for selecting Transmission Developers in line with the Standard Bidding Documents and Guidelines thereof as notified by the Ministry of Power. The work involves establishing a 400/220 kV, 2×500 MVA Pooling Station at Gadag and 400kV D/C transmission line from Gadag PS-Narendra (New) PS.

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