RECPDL Hands Over 6 Special Purpose Vehicles to PGCIL

RECPDCL Issues tender to evacuate 1 GW renewable energy

REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, an NBFC Maharatna CPSU under the Ministry of Power, has announced the handing over of six projects’ specific SPVs (Special Purpose Vehicles) to PGCIL (Power Grid Corporation of India Limited). These SPVs have been mainly established for constructing transmission projects in Khavda region of Gujarat.

The SPVs were won through a tariff-based competitive bidding process and PGCIL emerged as the successful bidder for all the six projects of the Ministry of Power.

Rahul Dwivedi, IAS, Chief Executive Officer, RECPDCL, who handed over the SPVs to Shri AK Singhal, Executive Director of PGCIL, commented, “RECPDCL is putting in all possible efforts to ensure the growth of new renewable power reforms to cater to the electricity capacity of the country. Tariff-based competitive bidding for the development of transmission system for evacuation of RE power is one such mission and we are here today to celebrate the golden jubilee of successfully completing the bidding of 50 projects being done through the TBCB route.” The occasion also saw the presence of Vivek Kumar Dewangan, CMD of REC Limited.

Vivek Kumar Dewangan, CMD, REC Limited remarked, “REC Limited is contributing to the development of power sector projects (in generation, transmission, and distribution) in the form of project financing, project implementation and monitoring. They are also into construction of four 220kV GIS & AIS substations along with associated 220kV transmission lines of approximately 275 km at the world’s highest altitude of 3000-5000 meters above MSL in the Ladakh region.”

On the occasion, officials from the Ministry of Power, Central Electricity Authority (CEA), Central Transmission Utility of India (CTUIL), state utilities, various central and state nominated committee members also marked their presence.

Serving as Bid Process Coordinator (BPC) for Tariff Based Competitive Bidding (TBCB) in transmission line projects. under the ambit of Prime Minister’s Development Package (PMDP) projects, RECPDCL has been responsible for the execution of the upgradation of projects in distribution and transmission sectors in the union territories of Jammu and Kashmir and Ladakh.

In December 2022, REC Power Development, and Consultancy (RECPDCL) had floated a tender for setting up 1250 MW (1.25 GW solar power) of interstate transmission system (ISTS)-connected through tariff-based competitive bidding (TBCB) process (Tranche-I) on building its own operate (b-O-O) basis.