Team News Riveting
New Delhi, December 25
The REC Limited on Wednesday announced that Rajgarh III Power Transmission Limited has been incorporated as wholly owned subsidiary of REC Power Development and Consultancy Limited (RECPDC).
The said company is also subsidiary company of REC Limited, in terms of the provisions of Section 2(87) of the Companies Act, 2013
“Pursuant to Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform that Rajgarh III Power Transmission Limited has been incorporated as Wholly Owned Subsidiary of REC Power Development and Consultancy Limited (RECPDCL),” REC Limited said in a regulatory filing today.
The Company has been incorporated for Transmission System for Evacuation of Power from RE Projects in Rajgarh (1500 MW) SEZ in Madhya Pradesh-Phase III.
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 and RE-Bundling projects. Under Prime Minister’s Development Package projects, RECPDCL has been executing critical infrastructure upgradation projects in distribution and transmission sectors in the UT of J&K and Ladakh. With its expert consulting, project implementation and transaction advisory services, RECPDCL is thus playing a key role across the power sector value chain of the country.
REC is a ‘Maharatna’ central public sector enterprise under the Ministry of Power, and is registered with RBI as Non-Banking Finance Company (NBFC), and Infrastructure Financing Company (IFC). REC finances the entire Power-Infrastructure sector comprising Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage, Pumped Storage projects, Green Hydrogen and Green Ammonia projects. 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),
