GURUGRAM, 05th APRIL, 2024 (TGN): REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited — a Maharatna CPSU under the Ministry of Power & a leading NBFC, handed over two project specific SPVs (Special Purpose Vehicles) on Friday namely, Kallam Transco Limited and Jalpura Khurja Power Transmission Limited formed for “Western Region Network Expansion Scheme in Kallam area of Maharashtra” and “Construction of 400/220 kV, 2×500 MVA GIS substation Metro Depot (Gr. Noida) with associated lines and 400/220 kV, 2×500 MVA GIS substation Jalpura” respectively through tariff based bidding process.
M/s Indigrid 2 Limited & Indigrid 1 Limited (Consortium) was the successful bidder for the Inter State Transmission Project of Ministry of Power, Government of India for development of Western Region Network Expansion Scheme in Kallam area of Maharashtra and M/s The Tata Power Company Limited was the successful bidder for the Intra-state project for Construction of 400/220 kV, 2×500 MVA GIS substation Metro Depot (Gr. Noida) with associated lines and 400/220 kV, 2×500 MVA GIS substation Jalpura of Govt. of Uttar Pradesh.
RECPDCL was the Bid Process Coordinator for both the projects.
The SPVs were handed over to the bidders in presence of Shri Rajesh Kumar, CEO, RECPDCL and senior officials of RECPDCL, REC Limited, CTUIL & UPPTCL.
About RECPDCL: REC Power Development and Consultancy Limited, RECPDCL, a wholly owned subsidiary of REC Limited, has been providing knowledge based consultancy and expert project 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 Based Competitive Bidding (TBCB) in Transmission Line Projects & RE-Bundling projects. Under PMDP projects RECPDCL has been executing critical infrastructure upgradation projects in distribution and transmission sectors in the UT of J&K and Ladakh. RECPDCL with its expert consulting, project implementation and transaction advisory services is thus playing a key role across the power sector value chain of the country.
About REC Limited: REC is a ‘Maharatna’ CPSE under the Ministry of Power, and is registered with RBI as Non-Banking Finance Company (NBFC), and Infrastructure Financing Company (IFC). REC is financing the entire Power-Infrastructure sector comprising Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage, Pumped Storage projects, Green Hydrogen, Green Ammonia projects etc. Recently, REC has also diversified into the Non-Power Infrastructure sector comprising Roads & Expressways, Metro Rail, Airports, IT Communication, Social and Commercial Infrastructure (Educational Institution, Hospitals), Ports and Electro-Mechanical (E&M) works in respect of various other sectors like Steel, Refinery, etc. REC Ltd. provides loans of various maturities to State, Central and Private Companies for creation of infrastructure assets in the country. REC Ltd. continues to play a key strategic role in the flagship schemes of the Government for the power sector and has been a nodal agency for Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGAYA), Deen Dayal Upadhaya Gram Jyoti Yojana (DDUGJY), National Electricity Fund (NEF) Scheme which resulted in strengthening of last mile distribution system, 100% village electrification and household electrification in the country. REC has also been made the nodal agency for certain States and Union Territories for the Revamped Distribution Sector Scheme (RDSS). REC has also been given the responsibility of PM Surya Ghar Muft Bijli Yojna from Central Government. The loan book of REC stands at Rs 4.97 Lakh Crore and Net Worth at Rs. 64,787 crores as on 31st Dec, 2023.Ends/TGN
