Rural Electrification Corporation (REC) has received an approval to incorporate Joint Venture Company between REC Transmission Projects Company (RECTPCL) and Maharashtra State Electricity Transmission Company (MSETCL) for exploration of new business opportunities in Power Sector in India and abroad. The Board of Directors of the company in its meeting held on December 5, 2018, approved the same.
The Board has also given approval to sale and transfer of Jawaharpur Firozabad Transmission, a wholly-owned subsidiary of RECTPCL and also of REC (in team of Section 2(87) of the Companies Act, 2013), to Power Grid Corporation of India, which has emerged as the Successful Bidder (L1), through Tariff Based Competitive Bidding Process, for ‘Evacuation of Power from 2 x 660 MW Jawaharpur Thermal Power Project and construction of 400 kV substation at Firozabad along with associated Transmission Lines’.
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.
