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RECTPCL subsidiary of REC handover SPV to PGCIL

REC Transmission Projects Company Limited (RECTPCL), a wholly owned subsidiary of REC LIMITED (Formerly Rural Electrification Corporation Limited) (REC), – a ‘Navratna’ Central Public Sector Undertaking, under Ministry of Power, has handed over project specific Special Purpose Vehicle (SPV) namely ERSS XXI Transmission Limitedto M/s Power Grid Corporation of India Limited (PGCIL) on 12th January, 2017 in the presence of Director (Technical), REC Limited.  CEO (RECTPCL), ED (PGCIL) and other officials of RECTPCL & PGCIL were also present during the event.Competing alongside with the private players in the sector, M/s Power Grid Corporation of India Limitedquoted the lowest levellised tariff. Transmission Project involves establishment ofthree Sub-stations, four transmission lines and two Sub-station extension works in Eastern region.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.

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