New Delhi [India], November 20 : REC Power Development and Consultancy Limited (RECPDCL), a wholly-owned subsidiary of REC Limited under the Ministry of Power, has successfully handed over the Special Purpose Vehicle (SPV) for the Khavda V-A HVDC Transmission Project to Power Grid Corporation of India Limited (PGCIL).
According to REC, the official transfer ceremony took place in Gurugram, marking a significant milestone in India's power transmission landscape.
PGCIL emerged as the Transmission Service Provider (TSP) for this project through a competitive bidding process conducted by RECPDCL under the Tariff-Based Competitive Bidding (TBCB) framework. The project will be developed on a Build, Own, Operate, and Transfer (BOOT) basis.
This pioneering initiative marks a significant milestone as the first-ever HVDC transmission project in India awarded through the Tariff-Based Competitive Bidding (TBCB) route.
Key features of the scheme include the establishment of two state-of-the-art HVDC terminal stations, each with a capacity of 6000 MW, located at KPS2 and Nagpur.
The project also involves the development of a +800 kV HVDC Bipole line, stretching an impressive 1200 km from KPS2 to Nagpur. This long-distance transmission line will ensure seamless and reliable power transfer across the network.
Additionally, the installation of six 1500 MVA, 765/400 kV Interconnecting Transformers (ICTs) at the Nagpur substation will further strengthen the grid's capacity to handle the substantial power load.
The SPV transfer was officiated by TSC Bosh, CEO of RECPDCL, and Pankaj Pandey, Executive Director of PGCIL, in the presence of senior officials from RECPDCL, PGCIL, and the Central Transmission Utility of India Limited. The project is set to be implemented over 54 months.
REC Limited, a Maharatna CPSU under the Ministry of Power, is a prominent non-banking financial company focusing on infrastructure financing.
With a diversified portfolio, REC supports projects in power generation, transmission, renewable energy, and emerging technologies such as green hydrogen and electric vehicles. It also finances critical non-power infrastructure sectors like roads, metro rail, and airports.
As of September 30, 2024, REC's loan book stands at Rs5.46 lakh crore, with a net worth of Rs72,893 crore. It continues to play a vital role in flagship government schemes, including SAUBHAGYA, DDUGJY, and RDSS, aiming to enhance India's power infrastructure and ensure last-mile connectivity.