State-owned REC arm REC Power Development and Consultancy Ltd (RECPDCL) has handed over Gadag Transmission, a project-specific special purpose vehicle to ReNew Transmission Ventures.
ReNew Transmission Ventures had won Gadag Transmission through a bidding process conducted by RECPDCL.
“RECPDCL, a wholly-owned subsidiary of REC Ltd, handed over project-specific SPV formed for the construction of Transmission Project viz, ‘Transmission Scheme for Solar Energy Zone in Gadag (2,500 MW), Karnataka – Part A to ReNew Transmission Ventures Private Ltd on March 17, 2022,” a company statement said.
RECPDCL acted as the bid process coordinator for the project and successfully handed over the inter-state transmission project of the Ministry of Power to ReNew Transmission Ventures.
The selection of successful bidder was carried out through the tariff-based competitive bidding (TBCB) process for the selection of transmission developers in line with the standard bidding documents and guidelines thereof as notified by the power ministry.
The work involves establishing a 400/220 kV, 2×500 MVA pooling station at Gadag and 400kV D/C transmission line from Gadag PS-Narendra (New) PS.
