REC’s Wholly-owned subsidiary -- REC Power Development and Consultancy (RECPDCL) has handed over two project-specific special purpose vehicles (SPVs) to Power Grid Corporation of India and Techno Electric & Engineering Company. The two project-specific SPVs are Khavda IV-E2 Power Transmission and NERES XVI Power Transmission.
RECPDCL has handed over Khavda IV-E2 Power Transmission to Power Grid and NERES XVI Power Transmission to Techno Electric.
Khavda IV-E2 Power Transmission and NERES XVI Power Transmission were formed for the implementation of Inter-State Transmission Schemes of the Ministry of Power for transmission system for evacuation of power. The respective transmission service providers were selected through a tariff-based competitive bidding process.
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.
