REC Limited has announced the incorporation of three new wholly owned subsidiary companies through its subsidiary, REC Power Development and Consultancy Limited (RECPDCL), to facilitate the development of power transmission infrastructure for renewable energy integration in Rajasthan and Uttar Pradesh. The three companies, Bikaner V Part A Power Transmission Limited, Bikaner V Part B Power Transmission Limited, and Mirzapur Power Transmission Limited, were incorporated on October 5, 2026.
REC Limited disclosed the development to the National Stock Exchange of India Limited and BSE Limited in compliance with the applicable Securities and Exchange Board of India (SEBI) disclosure requirements. The newly established entities will function as special purpose vehicles (SPVs) for the respective transmission projects.
Each company has an authorised equity capital of ₹5 lakh and a paid-up capital of ₹5 lakh. RECPDCL holds 100% of the equity share capital in each entity, acquired through cash consideration at face value. Consequently, all three companies qualify as indirect subsidiaries of REC Limited under the Companies Act, 2013. As the entities have been newly incorporated, they have not commenced business operations, and their turnover is currently not applicable.
The incorporation of Bikaner V Part A Power Transmission Limited and Bikaner V Part B Power Transmission Limited follows a Ministry of Power notification dated June 19, 2026. The notification allocated an inter-state transmission project to RECPDCL, acting as the designated Bid Process Coordinator, for the evacuation of renewable energy under the Rajasthan Renewable Energy Zone (REZ) Phase-IV, Part-6, covering the 6 GW Bikaner Complex.
The two companies have been established to facilitate the implementation of Part A and Part B of the transmission scheme, respectively. The project is intended to support the evacuation of renewable power generated in Rajasthan and strengthen the transmission network required to accommodate the state’s expanding renewable energy capacity.
Meanwhile, Mirzapur Power Transmission Limited was incorporated following a project allocation by Uttar Pradesh Power Transmission Corporation Limited through a letter dated August 10, 2026. RECPDCL will coordinate the bidding process for the development of 765 kV and 400 kV transmission lines associated with the 765/400 kV Mirzapur Pooling Substation.
Under the established procurement framework, RECPDCL facilitates the selection of transmission service providers through Tariff Based Competitive Bidding (TBCB). Following the selection of successful bidders in accordance with applicable regulations, the respective SPVs, along with their assets and liabilities, will be transferred to the winning developers for project implementation.
REC Limited clarified that the companies are related parties because of RECPDCL’s complete ownership. However, the promoter group has no financial or commercial interest in these entities beyond its equity shareholding. The transactions were conducted at arm’s length.
The incorporation of these subsidiaries forms part of the broader effort to develop transmission infrastructure and improve the integration of renewable energy into India’s electricity grid.
Discover more from SolarQuarter
Subscribe to get the latest posts sent to your email.
