REC Forms SPV for Transmission of 1500 MW RE from Madhya Pradesh
REC Ltd. has established a new subsidiary, Rajgarh III Power Transmission Ltd., to develop the transmission system for evacuating power from 1500 MW renewable energy projects in the Rajgarh SEZ, Madhya Pradesh.
December 26, 2024. By Mrinmoy Dey
Rajgarh III Power Transmission Ltd. has been incorporated as a wholly-owned subsidiary of REC Power Development and Consultancy Ltd. which is a wholly-owned subsidiary of REC Ltd., REC said in an exchange filing.
“Ministry of Power, vide Gazette notification dated December 12, 2024 had allocated one transmission project, wherein RECPDCL has been appointed to act as a bid process coordinator (BPC) for the purpose of selection of bidder for transmission system for evacuation of power from RE projects in Rajgarh (1500 MW) SEZ in Madhya Pradesh-Phase III,” it said.
It further added that Rajgarh III Power Transmission Ltd. was incorporated on December 24, 2024. “After selection of the successful bidder in accordance with the tariff-based competitive bidding (TBCB) guidelines, said the company would be transferred to the successful bidder along with all assets and liabilities,” it said.
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