RECPDCL hands over 5 SPVs for Interstate Power Transmission Projects
Gurugram: RECs wholly owned subsidiary of REC Power Development and Consultancy Limited (RECPDCL), handed over five project specific SPVs (Special Purpose Vehicles), to successful bidders for Inter State Transmission Projects through tariff based bidding process on Friday, February 09.
Power sector enterprises, Power Grid Corporation of India Limited, Indigrid 2 Limite
d & Indigrid 1 Limited (Consortium) and Apraava Energy Private Limited were the successful bidders for the ISTS Transmision projects of Ministry of Power, and RECPDCL was the Bid process coordinator.
The SPVs were handed over to bidders in presence of Rajesh Kumar, CEO, RECPDCL and senior officials of RECPDCL, REC Limited, PGCIL & CTUIL. Other officials from REC Limited, Central Electricity Authority (CEA), Central Transmission Utility of India (CTUIL) & other stakeholders were also present at the event.
Briefing the audience on the occasion, Rajesh Kumar, Chief Executive Officer, said, “In line with the visionary directions of Cabinet Minister R. K. Singh – (Min. for Power, New & Renewable Energy), and Pankaj Agarwal – Secretary (Power), RECPDCL is putting in all possible efforts to ensure the growth of renewable power reforms to cater to the electricity demand of the country. Tariff-based Competitive Bidding for the development of transmission system for evacuation of RE power is one such noble mission and RECPDCL is privileged to be a Bid Process Coordinator for award of projects through TBCB route.”
On the occasion, RECPDCL handed over Letters of Award to successful bidders Avaada Energy Private Limited and Juniper Green Energy Private Limited for setting up 100 MW wind power projects of DVC under the “Scheme for flexibility in Generation and Scheduling of Thermal/ Hydro Power Stations through bundling with Renewable Energy and Storage Power” issued by Ministry of Power, GOI).
REC, a power sector Maharatna enterprise is the promotor of RECPPDCL and as an NBFC focuses on Power Sector Financing and Development across India was stablished in 1969. Recently, REC has also diversified into non-power Infrastructure &; Logistics sector to cover areas such as airports, metro, railways, ports, bridges, etc.
RECPDCL 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 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.
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