REC Hands over Kallam Transmission SPV to IndiGrid Consortium

Power sector major lender REC Ltd through its subsidiary REC Power Development and Consultancy Ltd (RECPDCL) has handed over the Kallam Transmission Ltd, a project-specific special purpose vehicle (SPV) to the consortium of IndiGrid 1 Ltd and IndiGrid 2 Ltd.

The SPV was formed for the construction of a transmission project viz., ‘transmission system for evacuation of power from renewable energy (RE) projects in Osmanabad area (1 GW) in Maharashtra’.

Further, the consortium of IndiGrid 1 Ltd and IndiGrid 2 Ltd has been the successful bidder of the Inter-State Transmission (ISTS) project of the Ministry of Power, GoI and RECPDCL was the Bid Process Coordinator of the project.

The SPV has been handed over by R. Lakshmanan, CEO, RECPDCL and T S C Bosh, Jt. CEO, RECPDCL to Bigyan Parija from IndiGrid 1 Ltd and Aditya Kislay from IndiGrid 2 Ltd in the presence of other senior officials of RECPDCL, IndiGrid 1 Ltd and IndiGrid 2 Ltd.

The selection of successful bidder was carried out through tariff-based competitive bidding (TBCB) process for the selection of transmission developers in line with the standard bidding documents and guidelines, thereof, as notified by the Ministry of Power, Government of India.

The work involves the establishment of 400/220 kV Sub-station at Kallam and LILO of 400 kV double circuit Parli – Pune transmission line, and the project is expected to be completed in 18 months.

Navratna NBFC, REC was established in 1969 and has completed over fifty years in the area of its operations. It provides financial assistance to state electricity boards, state governments, central/state power utilities, independent power producers (IPPs), rural electric cooperatives and private sector utilities.

The company’s business activities involve financing projects in the complete power sector value chain; different types of projects include generation, transmission, distribution and renewable energy segments. Its funding illuminates every fourth bulb in India.