New Delhi [India], February 19 : REC Power Development and Consultancy Limited (RECPDCL) handed over two projects specific to Special Purpose Vehicle (SPVs) of ISTS Transmission Projects to Power Grid Corporation of India Limited on February 18 at Gurugram.
According to an official release by the Maharatna CPSU under the aegis of Ministry of Power, Power Grid Corporation of India Limited (PGCIL) emerged as the Transmission Service Provider (TSP) to develop both the transmission projects on Build, Own, Operate & Transfer (BOOT) basis, through Tariff-Based Competitive Bidding (TBCB) process conducted by RECPDCL, the Bid Process Coordinator.
The project is awarded under TBCB route viz, Bidar Transco Limited and Khavda V-B1B2 Power Transmission Limited.
The SPVs were handed over by TSC Bosh, CEO, RECPDCL to Pankaj Pandey, Executive Director, Power Grid Corporation of India Limited in the presence of Senior Officials of RECPDCL, PGCIL and Central Transmission Utility of India Limited. The implementation period for both the projects is 24 months.
The schemes are intended for augmentation of transformation capacity at Bidar Pooling Station in Karnataka and augmentation of transformation capacity at KPS1 & KPS2 substations in Gujarat for evacuation of power from RE power generators.
REC Power Development and Consultancy Limited, RECPDCL, a wholly owned subsidiary of REC Limited, has been providing knowledge-based consultancy and expert project implementation services to several state power distribution companies/Power Departments of states. RECPDCL has also been implementing transmission projects in Union Territories of Jammu & Kashmir and Ladakh.
RECPDCL has also been acting as Bid Process Coordinator (BPC) for inter-state as well as intra-state transmission projects and RE-bundling projects implemented through Tariff Based Competitive Bidding (TBCB).
RECPDCL with its expert consulting, project implementation and transaction advisory services is thus playing a key role across the power sector value chain of the country.
REC is a Maharatna company under the administrative control of the Ministry of Power of the Central government, and is registered with RBI as Non-Banking Finance Company (NBFC), Public Financial Institution (PFI) and Infrastructure Financing Company (IFC).