REC’s wholly owned subsidiary -- REC Power Development & Consultancy (RECPDCL) has transferred entire shareholding of Ramgarh-II Transmission, comprising of 50,000 equity shares at par value along with all its assets and liabilities, on October 26, 2023 to M/s Power Grid Corporation of India, the successful bidder selected through tariff based competitive bidding process to establish Inter-State transmission system for ‘Transmission system for evacuation of power from REZ in Rajasthan (20GW) under Phase-III Part Cl’. Hence, with effect from the aforesaid date, the above project specific SPV ceased to be 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.
