REC Power Development and Consultancy Limited Facilitates Key Transmission Projects and Renewable Energy Initiatives

New Delhi:   REC Power Development and Consultancy Limited (RECPDCL), a subsidiary of REC Limited, has successfully concluded the handover of five Special Purpose Vehicles (SPVs) formed for Inter State Transmission Projects (ISTS). The projects were awarded through a tariff-based competitive bidding process, with M/s Power Grid Corporation of India Limited (PGCIL), M/s Indigrid 2 Limited & Indigrid 1 Limited (Consortium), and M/s Apraava Energy Private Limited emerging as the successful bidders.

RECPDCL, acting as the Bid Process Coordinator, facilitated the entire process. The handover ceremony took place on February 9, 2024, in the presence of Shri Rajesh Kumar, CEO of RECPDCL, and senior officials from RECPDCL, REC Limited, PGCIL, Central Electricity Authority (CEA), and CTUIL.

CEO Shri Rajesh Kumar expressed the organization’s commitment to supporting the growth of renewable power reforms in alignment with the visionary directions of Union Minister for Power and New & Renewable Energy Shri R. K. Singh and Power Secretary Shri Pankaj Agarwal. The Tariff-based Competitive Bidding (TBCB) for the development of transmission systems aims to meet the country’s increasing electricity demand, and RECPDCL is honored to contribute as the Bid Process Coordinator for projects awarded through this route.

In addition to the ISTS Transmission Projects, RECPDCL also handed over Letters of Award (LOAs) to M/s Avaada Energy Private Limited and M/s Juniper Green Energy Private Limited. The LOAs were granted for the establishment of 100 MW wind power projects under the Ministry of Power’s “Scheme for flexibility in Generation and Scheduling of Thermal / Hydro Power Stations through bundling with Renewable Energy and Storage Power.”

Established in 1969, REC Limited, an NBFC focusing on Power Sector Financing and Development, has completed over fifty years of operations. REC provides financial assistance across the entire power sector value chain, including Generation, Transmission & Distribution, and Renewable Energy. Recently, REC has diversified into non-power Infrastructure & Logistics sectors, covering areas such as airports, metro, railways, ports, and bridges.

RECPDCL, as a wholly-owned subsidiary of REC Limited, has been providing knowledge-based consultancy and expert project implementation services to more than 50 State power distribution companies and Power Departments of States. Acting as a Bid Process Coordinator in Tariff Based Competitive Bidding (TBCB) for Transmission Line Projects & RE-Bundling projects, RECPDCL plays a vital role in the power sector value chain of the country, contributing to the growth and efficiency of the sector. Additionally, under Prime Minister’s Development Package projects, RECPDCL is actively involved in executing critical infrastructure upgradation projects in distribution and transmission sectors in the UT of J&K and Ladakh.