REC Transfers Key Energy Transmission Projects to Powergrid and IndiGrid - A Strategic Move in Indian Power Infra

REC has successfully transferred four major energy transmission project-specific SPVs to Power Grid Corporation and IndiGrid 2, marking a significant advancement in India's power infrastructure. These projects involve crucial transmission lines and substations across Jammu & Kashmir, Punjab, Rajasthan, and Andhra Pradesh, with an overall investment of over Rs 11,000 crores.

On Tuesday, REC announced that its subsidiary, RECPDCL, officially handed over four project-specific special purpose vehicles (SPVs) to Power Grid Corporation of India Ltd and IndiGrid 2 Private Ltd, marking an important step in India's power infrastructure enhancement.

The transfer includes significant projects such as the Ratle Kiru Power Transmission Ltd, awarded to IndiGrid 2 Private Ltd and involving the development of a vital 400 kV transmission line between key regions Jammu & Kashmir and Punjab. Another high-investment project made its way to Powergrid, focusing on enhancing transformation capacity in the Banaskantha region.

Further, RECPDCL administered the competitive bidding process, positioning Powergrid and IndiGrid as the leading Transmission Service Providers under the BOOT model. The handing over ceremony took place on March 24 in Gurugram, solidifying these entities' roles in advancing the nation's energy transmission capabilities.

(With inputs from agencies.)