RECPDCL Transfers Five Inter State Transmission Project SPVs to Winning Bidders

In a significant development aimed at advancing India’s renewable energy infrastructure, REC Power Development and Consultancy Limited (RECPDCL), a subsidiary of REC Limited, facilitated the handover of five project-specific Special Purpose Vehicles (SPVs) for Inter State Transmission Projects. The handover, conducted through a tariff-based competitive bidding process, saw the successful bidders taking charge of the SPVs in the presence of key officials from relevant stakeholders.

RECPDCL, serving as the Bid Process Coordinator, oversaw the process which resulted in M/s Power Grid Corporation of India Limited (PGCIL), M/s Indigrid 2 Limited & Indigrid 1 Limited (Consortium), and M/s Apraava Energy Private Limited emerging as the successful bidders for the ISTS Transmission Projects under the Ministry of Power, Government of India. The handover ceremony, held on February 9th, 2024, saw the presence of CEO, RECPDCL, Shri Rajesh Kumar, along with senior officials from RECPDCL, REC Limited, PGCIL, Central Electricity Authority (CEA), and CTUIL.

Expressing the organization’s commitment to renewable energy reforms, CEO of RECPDCL, Shri Rajesh Kumar, emphasized the alignment of RECPDCL’s efforts with the visionary directives of Union Minister for Power and New & Renewable Energy Shri R. K. Singh and Power Secretary Shri Pankaj Agarwal. He highlighted the noble mission of Tariff-based Competitive Bidding (TBCB) in developing transmission systems for renewable energy evacuation, with RECPDCL privileged to serve as the Bid Process Coordinator.

Furthermore, RECPDCL awarded Letters of Award (LOAs) to successful bidders, M/s Avaada Energy Private Limited and M/s Juniper Green Energy Private Limited, for the establishment of 100 MW wind power projects of Damodar Valley Corporation. These LOAs were granted under the “Scheme for flexibility in Generation and Scheduling of Thermal/Hydro Power Stations through bundling with Renewable Energy and Storage Power” of the Ministry of Power, further demonstrating the organization’s commitment to fostering renewable energy growth.

REC Limited, an NBFC focusing on Power Sector Financing and Development across India, has completed over fifty years of operations. It provides financial assistance to various projects within the power sector value chain, including Generation, Transmission & Distribution, and Renewable Energy. In recent years, REC has diversified into non-power Infrastructure & Logistics sectors to cover areas such as airports, metro, railways, ports, and bridges.

RECPDCL, a wholly owned subsidiary of REC Limited, provides knowledge-based consultancy and expert project implementation services to more than 50 State power distribution companies and Power Departments of States. It plays a pivotal role as a Bid Process Coordinator in Tariff Based Competitive Bidding (TBCB) in Transmission Line Projects & RE-Bundling projects. Moreover, under Prime Minister’s Development Package projects, RECPDCL executes critical infrastructure upgradation projects in distribution and transmission sectors in the UT of J&K and Ladakh, contributing significantly to the power sector value chain of the country.