Rural Electrification Corporation’s (REC) wholly owned subsidiary - REC Transmission Projects Company (RECTPCL) has transferred 50,000 equity shares of ERSS XXI Transmission, along with all its assets and liabilities, to Power Grid Corporation of India (PGCIL), the successful bidder selected through Tariff based Competitive Bidding for development of Inter-State Transmission Project viz. Eastern Region Strengthening Scheme-XXI, on January 12, 2018. Consequently, the above Project Specific SPV is not subsidiary of REC Transmission Projects Company.
REC is engaged in providing financial assistance to state electricity boards, state government departments and rural electric co-operatives for rural electrification projects as are sponsored by them.
