Rural Electrification Corporation (REC) will be setting up four projects specific special purpose vehicles (SPVs) as a subsidiary company. For this the Ministry of Power, Government of India, has appointed REC Transmission Projects Company (RECTPCL), a wholly owned subsidiary company of REC as bid process coordinator (BPC) for the transmission projects.
REC has received an approval for the proposal for incorporation of these four project specific SPVs as subsidiary companies of RECTPCL, which will also be subsidiaries of the company in terms of the provisions of the Companies Act, 1956.
Subsequently, these SPVs would be transferred to the respective successful bidders to be selected through tariff based competitive bidding process as transmission service provider for developing above transmission projects.
The transmission projects for which BPC has been appointed includes Baira Siul HEP - Sarna 220kV line, ATS of Unchahar TPS, Transmission System for connectivity for NCC Power Projects (1320 MW) and Transmission System required for evacuation of power from Kudgi TPS (3X800 MW in Phase-I) of NTPC.
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.
