REC’s subsidiary handover SPVs to M/s Sterlite Grid 4 Limited
REC Transmission Projects Company Limited, a wholly owned subsidiary of REC LIMITED (Formerly Rural Electrification Corporation Limited), – a ‘Navratna’ Central Public Sector Undertaking, under Ministry of Power, has handed over project specific Special Purpose Vehicles (SPV) namely NER-II Transmission Limited to M/s Sterlite Grid 4 Limited on 31st March, 2017.
Competing alongside with the sector majors, M/s Sterlite Grid 4 Limited quoted the lowest levellised tariff. Transmission Project involves establishment of two Sub-stations, five transmission lines and three bay extension works in North-Eastern states.
The selection was carried out based on the Standard Bidding Documents and Guidelines notified by Ministry of Power, Government of India for selection of transmission developers on Build, Own, Operate & Maintain (BOOM) basis through Tariff Based Competitive Bidding route.