REC’s board has approved the incorporation of two Project Specific Special Purpose Vehicles (SPVs), as Wholly Owned Subsidiary Companies of REC Transmission Projects Company (RECTPCL) for development of intrastate transmission work in Madhya Pradesh, through Tariff Based Competitive Bidding, allocated by Government of Madhya Pradesh. The companies to be incorporated will also be a subsidiary companies of REC, in terms of the provisions of Section 2(87) of the Companies Act, 2013. The Board of Directors of the company, in its Meeting held on June 17, 2020 has approved the same.
REC is engaged in providing financial assistance to state electricity boards, state government departments and rural electric cooperatives for rural electrification projects as are sponsored by them.
