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India: RECPDCL Hand Over Two SPVs of PGCIL

REC Power Distribution Company (RECPDCL), a wholly-owned subsidiary of REC under the Ministry of Power, handed over two projects specific special purpose vehicles (SPVs) 'Fatehgarh Bhadla Transco' and 'Sikar New Transmission' to the Power Grid Corporation of India (PGCIL) on 4 June 2021.

 

The selection of PGCIL was carried out through tariff-based competitive bidding (TBCB) for selection of transmission developers in line with the standard bidding documents and guidelines thereof as notified by the Ministry of Power.

 

REC is a Navratna NBFC focusing on the power sector financing and development across India. It provides financial assistance to state electricity boards, state governments, Central/state power utilities, independent power producers, rural electric cooperatives and private sector utilities.

 

Its business activities involve financing projects in the complete power sector value chain; different type of projects includes generation, transmission, distribution projects and renewable energy projects.

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