GURUGRAM: REC Power Development and Consultancy Ltd. (RECPDCL), a wholly owned subsidiary of REC Ltd., a Maharatna CPSU under the Ministry of Power, handed over the project-specific special purpose vehicle (SPV) Ratle Kiru Power Transmission Ltd. to IndiGrid 2 Private Ltd. on March 24 in Gurugram.
IndiGrid 2 Private Ltd. emerged as the transmission service provider (TSP) through the tariff-based competitive bidding (TBCB) process conducted by RECPDCL, which served as the bid process coordinator. The company will develop the transmission project on a build, own, operate and transfer (BOOT) basis.
Shri T.S.C. Bosh, CEO of RECPDCL, handed over the SPV to Shri Puneet Singh Chauhan, vice president and head of commercial at IndiGrid 2 Private Ltd., in the presence of senior officials from RECPDCL, IndiGrid 2 Private Ltd. and Central Transmission Utility of India Ltd.
The project, with an estimated cost of Rs. 1,407.44 crore, has a 24-month implementation period. It includes the construction of a 150-kilometer, 400-kilovolt transmission line between Samba, Jammu and Kashmir, and Jalandhar, Punjab, as well as a 35-kilometer, 400-kilovolt line between Kishenpur and Samba, along with other associated works.
