REC Ltd.

REC’s wholly owned subsidiary -- REC Power Development and Consultancy (RECPDCL) has transferred Davanagere Power Transmission, a project special purpose vehicle (SPV), to Power Grid Corporation of India.

Power Grid Corporation emerged as the top bidder as the transmission service provider through the tariff-based competitive bidding (TBCB) process conducted by RECPDCL, the bid process coordinator, for development of the transmission project on a Build, Own, Operate & Transfer (BOOT) basis. The implementation period of the project is 24 months.

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.