The Aryavarth Express
Agency(New Delhi): REC Power Development and Consultancy Limited (RECPDCL), a subsidiary of REC Limited, a ‘Maharatna’ central public sector enterprise under the Ministry of Power, has completed a significant handover of a Special Purpose Vehicle (SPV) to M/s G R Infraprojects Private Limited. This SPV, named Pachora Power Transmission Limited, is pivotal for the Inter State Transmission Project aimed at “Evacuation of Power from Renewable Energy (RE) Projects in Rajgarh (1000 MW) SEZ in Madhya Pradesh – Phase II” through a Tariff-based Competitive Bidding process.
The handover ceremony was attended by senior officials from RECPDCL and representatives from the Central Transmission Utility of India Limited (CTUIL), along with other key stakeholders. This event marks a crucial step in the development of renewable energy infrastructure in India.
Shri Rajesh Kumar, CEO of RECPDCL, emphasized the organization’s commitment to fostering renewable power reforms to meet the country’s electricity demand. He noted that the Tariff-based Competitive Bidding for developing transmission systems for renewable energy power evacuation aligns with the visionary directions of the Power Minister and Power Secretary. RECPDCL’s role as a Bid Process Coordinator for awarding projects through this route is a testament to its dedication to renewable energy development.
RECPDCL has been instrumental in providing expert consultancy and project implementation services to over 50 State power distribution companies and Power Departments of States. Acting as a Bid Process Coordinator for Transmission Line Projects and Renewable Energy-Bundling projects, RECPDCL has significantly contributed to infrastructure upgradation projects in distribution and transmission sectors in the Union Territories of Jammu & Kashmir and Ladakh as part of the Prime Minister’s Development Package projects.
REC Limited, the parent company of RECPDCL, is a ‘Maharatna’ CPSE under the Ministry of Power and a registered Non-Banking Finance Company (NBFC) and Infrastructure Financing Company (IFC). It plays a strategic role in financing the entire Power-Infrastructure sector, including Generation, Transmission, Distribution, Renewable Energy, and new technologies such as Electric Vehicles, Battery Storage, Pumped Storage projects, and Green Hydrogen and Green Ammonia projects. REC’s diversification into Non-Power Infrastructure sectors further amplifies its impact on India’s infrastructure development.
With a loan book of Rs 4.97 Lakh Crores and a Net Worth of Rs. 64,787 crores as of 31st December 2023, REC continues to be a central player in government flagship schemes for the power sector. It serves as a nodal agency for various national electrification and power distribution schemes, playing a vital role in achieving 100% village electrification and household electrification across the country.
