RECPDCL hands over 6 Special Purpose Vehicles to PGCIL

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REC Power Development and Consultancy Limited (RECPDCL), the wholly owned subsidiary ofREC Limited – the NBFC Maharatna CPSU under the aegis of Ministry of Power, handed over 6 projects’ specific Special Purpose Vehicles (SPV), mostly formed for the construction of Transmission Projects in Khavda region through Tariff Based Competitive Bidding process at a function yesterday. M/s Power Grid Corporation of India Limited (PGCIL) was the successful bidder for all of the 6 Projects of the Ministry of Power, Government of India and RECPDCL was the Bid Process Coordinator.

The SPVs were handed over by Shri Rahul Dwivedi, IAS, CEO, RECPDCL to Shri AK Singhal, Executive Director of M/s Power Grid Corporation of India Limited in the presence of Shri Vivek Kumar Dewangan, CMD, REC Limited. On this occasion, Shri Rahul Dwivedi, Chief Executive Officer, RECPDCL, said, “RECPDCL is putting in all possible efforts to ensure the growth of new renewable power reforms to cater to the electricity capacity of the country. Tariff-based competitive bidding for the development of transmission system for evacuation of RE power is one such mission and we are here today to celebrate the golden jubilee of successfully completing the bidding of 50 projects being done through the TBCB route.”

Shri Vivek Kumar Dewangan, CMD, REC Limited said, “REC Limited is contributing to the development of power sector projects (in Generation, Transmission, and Distribution) in the form of project financing, project implementation & monitoring. They are also into construction of 4 Nos. of 220kV GIS & AIS substations along with associated 220kV Transmission lines of approximately 275 km at the world’s highest altitude of 3000-5000 meters above MSL in the Ladakh region.”

Shri Ajoy Choudhury, Director (Finance), REC Limited, Shri Vijay Kumar Singh, Director (Technical), REC Limited, Shri t.s.c. Bosh, Executive Director, REC Limited, Shri Abhay Choudhary, Director (Projects), Power Grid Corporation of India Limited, Shri P.S. Hariharan, CGM, RECPDCL, Shri Vijay Kulkarni, Sr. GM, RECPDCL, Shri Vikram Singh Bhal, Executive Director, CTUIL, Shri Atul Agrawal, Sr. GM, CTUIL, Shri Deepak Krishnan Manager, CTUIL and officials from the Ministry of Power, Central Electricity Authority (CEA), Central Transmission Utility of India (CTUIL), State Utilities, various Central & State nominated committee members were also present at the occasion.

About REC Limited: REC Limited is an NBFC Maharatna CPSU on Power Sector Financing and Development across India. Established in 1969, REC Ltd. has completed over fifty years in the area of its operations. It provides financial assistance to complete the power-sector value chain; for various types of projects including Generation, Transmission & Distribution, and Renewable Energy.Recently, REC has also diversified into non-power Infrastructure & Logistics sector to cover areas such as airports, metro, railways, ports, bridges, etc.

About RECPDCL: REC Power Development and Consultancy Limited, RECPDCL, a wholly ownedsubsidiary of REC Limited- the NBFC Maharatna CPSU, has been providing knowledge-based consultancy and expertproject implementation services to more than 50 State power distribution companies/Power Departments of States.

RECPDCL has been acting as Bid Process Coordinator (BPC) for Tariff BasedCompetitive Bidding (TBCB) in Transmission Line Projects. Under PMDP projects RECPDCL has been executing criticalinfrastructure upgradation projects in distribution and transmission sectors in the UT ofJ&K and Ladakh. RECPDCL with its expert consulting, projectimplementation andtransaction advisory services is thus playing a key role across the power sector valuechain of the country.