REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, a Maharatna CPSU under the Ministry of Power, has officially handed over two Special Purpose Vehicles (SPVs) linked to ISTS Transmission Projects to Power Grid Corporation of India Limited (PGCIL). The transfer took place on 18th February 2025 in Gurugram.
The two project-specific SPVs—Bidar Transco Limited and Khavda V-B1B2 Power Transmission Limited—were awarded to PGCIL, which emerged as the Transmission Service Provider (TSP) through the Tariff-Based Competitive Bidding (TBCB) process. These projects will be developed under the Build, Own, Operate & Transfer (BOOT) model. RECPDCL, acting as the Bid Process Coordinator, facilitated the competitive bidding.
The formal transfer was conducted by Shri T.S.C. Bosh, CEO of RECPDCL, who handed over the SPVs to Shri Pankaj Pandey, Executive Director of PGCIL, in the presence of senior officials from RECPDCL, PGCIL, and Central Transmission Utility of India Limited. With a 24-month implementation timeline, these projects aim to enhance transformation capacity at Bidar Pooling Station in Karnataka and KPS1 & KPS2 Substations in Gujarat, supporting power evacuation from renewable energy sources.
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