GURUGRAM:REC Power Development and Consultancy Ltd. (RECPDCL), a subsidiary of REC Ltd., has transferred two special purpose vehicles (SPVs) for interstate transmission system (ISTS) projects to Power Grid Corp. of India Ltd. (PGCIL). The handover took place Feb. 18 in Gurugram.
PGCIL was selected as the transmission service provider to develop the Bidar Transco Ltd. and Khavda V-B1B2 Power Transmission Ltd. projects through a tariff-based competitive bidding process conducted by RECPDCL. Both projects will be developed on a build, own, operate and transfer (BOOT) basis over 24 months.
T.S.C. Bosh, CEO of RECPDCL, handed over the SPVs to Pankaj Pandey, executive director of PGCIL, in the presence of senior officials from RECPDCL, PGCIL and Central Transmission Utility of India Ltd.
The projects aim to expand transformation capacity at the Bidar Pooling Station in Karnataka and the KPS1 and KPS2 substations in Gujarat to support power evacuation from renewable energy generators.
