REC Transfers Transmission SPVs to Power Grid, IndiGrid

New Delhi, Mar 25 (PTI) REC on Tuesday said its subsidiary, RECPDCL, has handed over four project-specific special purpose vehicles (SPVs) -- three to Power Grid Corporation of India Ltd and one to IndiGrid 2 Private Ltd.

Transmission asset, namely Ratle Kiru Power Transmission Ltd, has been handed over to IndiGrid 2 Private Ltd, REC said in a statement.

It involves the construction of a 150-km, 400 kV transmission line between Samba (J&K) and Jalandhar (Punjab), along with a 35-km, 400 kV line between Kishenpur (J&K) and Samba. The project also includes other associated works. The estimated cost of the project is around Rs 1,407.44 crore.

The Banaskantha Transco Ltd project, handed over to Powergrid, covers the augmentation of transformation capacity at the Banaskantha (Raghanesda) Pooling Station.

This includes the installation of two 500 MVA (megavolt amperes) 400/220 kV ICTs ( Kilovolt interconnecting transformers and associated works, at an estimated cost of Rs 143.35 crore.

The Kurnool-IV Transmission Limited project involves the establishment of a Pooling Station near Kurnool, Andhra Pradesh.

It also includes 765 kV transmission lines spanning 375 km from Kurnool-IV to Bidar and 127 km from Kurnool-IV to Kurnool-III, along with other associated works, with an estimated cost of Rs 4,727.05 crore.

The Rajasthan V Power Transmission Limited project covers the establishment of a transmission system for immediate evacuation of power from the Sirohi substation (2 GW) and a transmission system for common evacuation of power from Sirohi PS (2 GW) and Merta-II PS (2 GW). The estimated cost of this project is Rs 4,736.23 crore.

Powergrid and IndiGrid 2 Private Limited have emerged as the Transmission Service Providers through the Tariff-Based Competitive Bidding process conducted by RECPDCL, the Bid Process Coordinator, for development of the transmission projects on Build, Own, Operate & Transfer (BOOT) basis.

All the SPVs were transferred to the successful bidders on March 24 in Gurugram.