REC’s subsidiary RECPDCL hands over Special Purpose Vehicle ‘Ramgarh II Transmission Ltd’ to Powergrid
Gurugram, 27th October 2023:REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, the NBFC Maharatna Company, a CPSE under the aegis of Ministry of Power, handed over the project-specific SPV (Special Purpose Vehicle), formed for the construction of Transmission Project viz., ‘Ramgarh II Transmission Limited to Power Grid Corporation of India(PGCIL)Limited on 26th October 2023.
The selection of M/s Power Grid Corporation of IndiaLimited was carried out through Tariff Based Competitive Bidding (TBCB) carried out by RECPDCL for the selection of a Transmission Service Provider in line with the Standard Bidding Documents and Guidelines thereof as notified by the Ministry of Power, Government of India.
The SPV work is associated with the ambitious 500 GW RE plan of the Government of India. The work involves the implementation of a 765/400kV & 2×500 MVA 400/220 kV pooling station at Ramgarh along with 765kV D/c line (Ramgarh PS to Bhadla-3 PS) in state of Rajasthan.
The project for implementation is targeted in 18 months. After implementation, it would help in the evacuation of RE power from Renewable Energy Zones (REZs) is the state of Rajasthan.
The SPV has been handed over by Shri Rajesh Kumar, CEO, RECPDCL to Shri Pankaj Pandey, Executive Director, PGCIL in the presence of Shri Jasbir Singh, Executive Director, CTUIL; Shri P.S. Hariharan, CGM, RECPDCL and other senior officials of RECPDCL, CTUIL & PGCIL.
With the handing over of the above SPV, RECPDCL successfully handed over 54 transmission projects till now costing around Rs 75,000 crore.