Team News Riveting
New Delhi, June 29
The Board of Directors of state-run REC Limited on Saturday approved the incorporation of two project-specific special purpose vehicles as wholly owned subsidiary companies of REC Power Development and Consultancy Limited (a wholly owned subsidiary of REC Limited).
The meeting was held Saturday morning. “Pursuant to Regulation 30 read with Schedule III of SEBI (L is ting Obligations and Disclosure Requirements) Regulations , 2015 , this is to inform that the Board of Directors of REC Limited in its meeting held on June 29, 2024, inter-alia considered and approved incorporation of two project-specific special purpose vehicles, as wholly owned subsidiary companies of REC Power Development & Consultancy Limited (a wholly owned subsidiary of REC Limited), for the purpose of selection of Bidder as Transmission Service Provider (TSP) to establish following two Interstate Transmission Systems projects allocated by Ministry of Power, Government of India, through Tariff Based Competitive Bidding (TBCB) process,” REC Limited said in a regulatory filing today.
1. Transmission system for evacuation of power from Rajasthan REZ Ph -IV (Part- 4: 3.5 GW): Part A
2. Transmission system for evacuation of power from Rajasthan REZ Ph-IV (Part- 4:3.5 GW): Part B
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
