New Delhi, Feb 20: REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, the Maharatna CPSU on Thursday formally handed over two transmission projects to Power Grid Corporation of India Limited (PGCIL).
An official spokesperson said the two project specific SPVs (Special Purpose Vehicle) of ISTS Transmission Projects under TBCB route viz, Bidar Transco Limited and Khavda V-B1B2 Power Transmission Limited were handed over to PGCIL at Gurugram.
He said PGCIL emerged as the Transmission Service Provider (TSP) to develop both the transmission projects on Build, Own, Operate & Transfer (BOOT) basis, through Tariff-Based Competitive Bidding (TBCB) process conducted by RECPDCL, the Bid Process Coordinator.
The SPVs were handed over by T.S.C. Bosh, CEO, RECPDCL to Pankaj Pandey, Executive Director, Power Grid Corporation of India Limited in the presence of Senior Officials of RECPDCL, PGCIL and Central Transmission Utility of India Limited.
The implementation period for both the projects is 24 months.
The schemes are intended for augmentation of transformation capacity at Bidar Pooling Station in Karnataka State and augmentation of transformation capacity at KPS1 & KPS2 Substations in Gujarat State for evacuation of Power from RE Power Generators.
