REC’s wholly owned subsidiary -- REC Power Development & Consultancy (RECPDCL) has transferred its 50,000 equity shares presently held in WRSR Power Transmission to Adani Transmission, the successful bidder selected through tariff based competitive bidding process to establish ISTS Network Expansion scheme in Western Region & Southern Region for export of surplus power during high RE scenario in Southern Region. Hence, the above project specific SPV is not a subsidiary of RECPDCL & REC.
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.
