REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited - the NBFC Maharatna central public sector enterprise under the aegis of Ministry of Power - has handed over five project-specific Special Purpose Vehicles (SPVs), formed for Inter State Transmission Projects, through tariff-based competitive bidding process.

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 emerged as the successful bidders for the ISTS Transmission Projects of Ministry of Power, Government of India. RECPDCL was the Bid Process Coordinator.

The SPVs were handed over to the successful bidders in presence of CEO, RECPDCL, Rajesh Kumar and senior officials of RECPDCL, REC Limited, PGCIL, Central Electricity Authority (CEA) & CTUIL, on 9th February, 2024.

Chief Executive Officer, RECPDCL Rajesh Kumar said,“In line with the visionary directions of Union Minister for Power and New & Renewable Energy R. K. Singh and Power Secretary Pankaj Agarwal, RECPDCL is putting in all possible efforts to ensure the growth of renewable power reforms to cater to the electricity demand of the country. Tariff-based Competitive Bidding (TBCB) for the development of transmission system for evacuation of renewable energy is one such noble mission and RECPDCL is privileged to be a Bid Process Coordinator for award of projects through the TBCB route.”