REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, the Maharatna CPSU under the aegis of Ministry of Power, handed over 3 Nos. project specific SPV (Special Purpose Vehicle) of ISTS Transmission Project under TBCB route viz. Banaskantha Transco Limited, Kurnool-IV Transmission Limited & Rajasthan V Power Transmission Limited to Power Grid Corporation of India Limited on 24th March 2025 at Gurugram.
Power Grid Corporation of India Limited (PGCIL) emerged as the Transmission Service Provider (TSP) through Tariff-Based Competitive Bidding (TBCB) process conducted by RECPDCL, the Bid Process Coordinator, for development of the transmission projects on Build, Own, Operate & Transfer (BOOT) basis.
The SPVs were handed over by Shri T.S.C. Bosh, CEO, RECPDCL to Shri Pankaj Pandey, Executive Director, Power Grid Corporation of India Limited in the presence of Senior Officials of RECPDCL, PGCIL and Central Transmission Utility of India Limited.
The scope of the 3 projects are:
The Banaskantha Transco Limited project covers augmentation of transformation capacity at the Banaskantha (Raghanesda) Pooling Station (GIS) by installing 2×500 MVA, 400/220 kV ICTs, along with associated works, at an estimated cost of ₹143.35 crore.
The Kurnool-IV Transmission Limited project involves the establishment of a 4×1500 MVA, 765/400 kV and 4×500 MVA, 400/220 kV Kurnool-IV Pooling Station near Kurnool, Andhra Pradesh. It also includes 765 kV transmission lines spanning 375 km from Kurnool-IV to Bidar and 127 km from Kurnool-IV to Kurnool-III, along with other associated works, with an estimated cost of ₹4,727.05 crore.
The Rajasthan V Power Transmission Limited project covers establishment of a transmission system for immediate evacuation of power from the Sirohi substation (2 GW) and transmission system for common evacuation of power from Sirohi PS (2 GW) and Merta-II PS (2 GW). The estimated cost of this project is ₹4,736.23 crore.
The implementation for all the projects is 24 months.
About RECPDCL: REC Power Development and Consultancy Limited, RECPDCL, a wholly owned subsidiary of REC Limited, has been providing knowledge-based consultancy and expert project implementation services to several State power distribution companies/Power Departments of States. RECPDCL has also been implementing transmission projects in UTs of J&K and Ladakh.
RECPDCL has also been acting as Bid Process Coordinator (BPC) for Inter-state as well as Intrastate transmission projects and RE-Bundling projects implemented through Tariff Based Competitive Bidding (TBCB). RECPDCL with its expert consulting, project implementation and transaction advisory services is thus playing a key role across the power sector value chain of the country.
About REC LIMITED
REC is a 'Maharatna' company under the administrative control of the Ministry of Power, Government of India, and is registered with RBI as Non-Banking Finance Company (NBFC), Public Financial Institution (PFI) and Infrastructure Financing Company (IFC). REC is financing the entire Power-Infrastructure sector comprising Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage, Pump Storage projects, Green Hydrogen, Green Ammonia projects etc. More recently REC Limited has also diversified into the Non-Power Infrastructure sector comprising Roads & Expressways, Metro Rail, Airports, IT Communication, Social and Commercial Infrastructure (Educational Institution, Hospitals), Ports and Electro-Mechanical (E&M) works in respect of various other sectors like Steel, Refinery, etc.
REC Limited provides loans of various maturities to State, Central and Private Companies for creation of infrastructure assets in the country. REC Limited continues to play a key strategic role in the flagship schemes of the Government for the power sector and has been nodal agency for Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGAYA), Deen Dayal Upadhaya Gram Jyoti Yojana (DDUGJY), National Electricity Fund (NEF) Scheme which resulted in strengthening of last mile distribution system, 100% village electrification and household electrification in the country. REC has also been made the nodal agency for certain States and Union Territories for the Revamped Distribution Sector Scheme (RDSS). REC has also been given the responsibility of PM Surya Ghar Muft Bijli Yojna from Central Government. The Loan Book of REC stands at ₹5.65 lakh crore, Market capitalization at ₹1,31,844 crore and Net Worth at ₹76,502 crores as on 31 Dec 2024.
