Rural Electrification Corporation Ltd: Setting up of three Projects Specific Purpose Vehicles (SPVs). as Subsidiary Companies of REC

Rural Electrification Corporation Ltd has informed BSE about the following:

In exercise of the powers conferred in the Central Government by Sub-para 3.2 of Para 3 of the Guidelines circulated under Section 63 of the Electricity Act, 2003, REC Transmission Projects Company Ltd (RECTPCL), a wholly owned subsidiary company of REC Ltd, has been appointed Bid Process Coordinator (BPC) for the following transmission projects:-

1. Transmission System Associated with IPPs of Vemagiri Area- Package A
- Vemagiri Pooling Station-Khammam 765 kV 1xD/c (1st ckt.) line.
- Khamam - Hyderabad 765 kV D/C (1st ckt.) line.

2. Transmission System Associated with IPPs of Vemagiri Area- Package B
- Vemagiri Pooling Station-Khammam 765 kV 1xD/C (2nd ckt.) line.
- Khamam - Hyderabad 765 kV D/C (2nd ckt.) line.

3. Transmission System Associated with IPPs of Vemagiri Area- Package C
- Wardha-Jabalpur Pooling Station 765 kV 1xD/c line.

To take up the work of BPC, RECTPCL is in the process to incorporate three Special Purpose Vehicles (SPVs) as its wholly owned subsidiary companies for each of the abovementioned transmission project. Since RECTPCL is a wholly owned Subsidiary of REC, the Board of REC has also approved the proposal of incorporation of three SPVs as Subsidiary companies of RECTPCL, which will also be subsidiaries of REC Ltd in terms of the provisions of Section 4(1) (c) of the Companies Act, 1956.Read More