REC has received an approval for the incorporation of a project-specific special purpose vehicle (SPV), as wholly owned subsidiary of REC Power Development & Consultancy (RECPDCL), for the transmission project i.e. Construction of Meerut (765) - Shamli 400 kV DIC line. The proposed Company will also be subsidiary Company 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 September 15, 2022 inter-alia 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.
