REC Power Development and Consultancy Limited (RECPDCL), a subsidiary of REC Limited, has successfully facilitated the handover of five project-specific Special Purpose Vehicles (SPVs) for Inter State Transmission Projects. This pivotal development marks a significant milestone in the nation’s pursuit of bolstering its energy sector.
Through a rigorous tariff-based competitive bidding process, Power Grid Corporation of India Limited (PGCIL), Indigrid 2 Limited & Indigrid 1 Limited (Consortium), and Apraava Energy Private Limited emerged triumphant as the successful bidders for the ISTS Transmission Projects initiated by the Ministry of Power, Government of India. Acting as the Bid Process Coordinator, RECPDCL played a pivotal role in orchestrating this process, ensuring transparency and efficiency.
The official handover ceremony took place on February 9th, 2024, with the presence of esteemed dignitaries including CEO of RECPDCL, Rajesh Kumar, along with senior officials from RECPDCL, REC Limited, PGCIL, Central Electricity Authority (CEA), and CTUIL. This event underscored the commitment of all stakeholders towards advancing the nation’s energy infrastructure in alignment with the visionary directives of Union Minister for Power and New & Renewable Energy, RK Singh, and Power Secretary Pankaj Agarwal.
CEO of RECPDCL, Rajesh Kumar, remarked, “RECPDCL is dedicated to supporting the growth of renewable power reforms to meet the burgeoning electricity demand of the country. Tariff-based Competitive Bidding (TBCB) for the development of transmission systems plays a pivotal role in this mission, and RECPDCL is honoured to serve as the Bid Process Coordinator for awarding projects through this route.”
Additionally, RECPDCL seized the opportunity to award Letters of Award (LOAs) to Avaada Energy Private Limited and Juniper Green Energy Private Limited for the establishment of 100 MW wind power projects under the “Scheme for flexibility in Generation and Scheduling of Thermal/Hydro Power Stations through bundling with Renewable Energy and Storage Power” of the Ministry of Power. This further demonstrates the commitment towards promoting renewable energy sources and fostering sustainable energy practices.
