RECPDCL has handed over Rajasthan-IV H-1 Power Transmission Ltd, a project SPV, to Power Grid Corp. The transmission project will be developed on a BOOT basis.
Photograph: Courtesy Power Grid Corporation
New Delhi, Oct 15 (PTI) State-owned REC Ltd on Tuesday said its arm REC Power Development and Consultancy Lted (RECPDCL) has handed over Rajasthan-IV H-1 Power Transmission Ltd, a project special purpose vehicle (SPV) to Power Grid Corp.
Power Grid Corporation of India Ltd (PGCIL) emerged as the transmission service provider (TSP) through tariff-based competitive bidding (TBCB) process conducted by RECPDCL, the BPC (Bid Process Coordinator), for development of the transmission project on BOOT (Build, Own, Operate & Transfer) basis, the statement said.
According to the statement, RECPDCL handed over a project-specific SPV (Special Purpose Vehicle) viz, Rajasthan-IV H-1 Power Transmission Ltd to PGCIL on October 15, 2024 at Gurugram.
The SPV was handed over by T S C Bosh, CEO, RECPDCL, to Satyaprakash Dash, Company Secretary, PGCIL.
The project is targeted for implementation in 24 months, it stated.
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