REC Power Development and Consultancy Limited (RECPDCL), the wholly owned subsidiary of REC Limited – the NBFC Maharatna CPSU under the aegis of Ministry of Power, handed over 6 projects’ specific Special Purpose Vehicles (SPV), mostly formed for the construction of Transmission Projects in Khavda region through Tariff Based Competitive Bidding process at a function yesterday. M/s Power Grid Corporation of India Limited (PGCIL) was the successful bidder for all of the 6 Projects of the Ministry of Power, Government of India and RECPDCL was the Bid Process Coordinator.
The SPVs were handed over by Shri Rahul Dwivedi, IAS, CEO, RECPDCL to Shri AK Singhal, Executive Director of M/s Power Grid Corporation of India Limited in the presence of Shri Vivek Kumar Dewangan, CMD, REC Limited. On this occasion, Shri Rahul Dwivedi, Chief Executive Officer, RECPDCL, said, “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.”
Shri Vivek Kumar Dewangan, CMD, REC Limited said, “REC Limited is contributing to the development of power sector projects (in Generation, Transmission, and Distribution) in the form of project financing, project implementation & monitoring. They are also into construction of 4 Nos. of 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.”
RECPDCL has been acting as Bid Process Coordinator (BPC) for Tariff Based Competitive Bidding (TBCB) in Transmission Line Projects. Under PMDP projects RECPDCL has been executing critical infrastructure upgradation projects in distribution and transmission sectors in the UT of J&K and Ladakh. 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.