REC Ltd Transfers Power Transmission Projects to Power Grid and Techno Electric

State-owned REC Ltd has handed over two project-specific special purpose vehicles (SPVs) to Power Grid and Techno Electric. The SPVs are Khavda IV-E2 Power Transmission Ltd and NERES XVI Power Transmission Ltd. These were formed for the Ministry of Power's Inter-State Transmission Schemes and awarded through tariff-based competitive bidding.

State-owned REC Ltd on Thursday said its arm RECPDCL has handed over two project-specific special purpose vehicles (SPVs) to Power Grid and Techno Electric.

The two project-specific SPVs are Khavda IV-E2 Power Transmission Ltd and NERES XVI Power Transmission Ltd, REC said in a statement.

''Wholly-owned subsidiary REC Power Development and Consultancy Ltd (RECPDCL) has handed over Khavda IV-E2 Power Transmission Ltd to Power Grid and NERES XVI Power Transmission Ltd to Techno Electric,'' the company said.

Khavda IV-E2 Power Transmission Ltd and NERES XVI Power Transmission Ltd were formed for the implementation of Inter-State Transmission Schemes of the Ministry of Power for transmission system for evacuation of power, it said.

The respective transmission service providers were selected through a tariff-based competitive bidding process.