RECPDCL Handovers HVDC Transmission Project’s SPV viz. Khavda V-A Power Transmission Limited to Power Grid Corporation of India Limited

REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, the Maharatna CPSU under the aegis of Ministry of Power, has handed over the project specific SPV (Special Purpose Vehicle) of HVDC Transmission Project under TBCB route viz, Khavda V-A Power Transmission Limited to Power Grid Corporation of India Limited on 19^th November 2024 at Gurugram. 

Power Grid Corporation of India Limited (PGCIL) emerged as the Transmission Service Provider (TSP) through Tariff-Based Competitive Bidding (TBCB) process conducted by RECPDCL, the Bid Process Coordinator, for development of the transmission project on Build, Own, Operate & Transfer (BOOT) basis.

This is the first HVDC transmission project, whereby the award process has been concluded through TBCB route and handed over to PGCIL. The scheme covers establishment of 2 Nos. HVDC terminal stations of 6000 MW at KPS2 and Nagpur, + 800 kV HVDC Bipole line (Hexa Lapwing) from KPS2 to Nagpur (1200 km), 6×1500 MVA, 765/400 kV ICTs at Nagpur S/s along with associated works.

The SPV was handed over by Shri T.S.C. Bosh, CEO, RECPDCL to Shri Pankaj Pandey, Executive Director, Power Grid Corporation of India Limited in the presence of Senior Officials of RECPDCL, Power Grid Corporation of India Limited and Central Transmission Utility of India Limited. The implementation period of the project is 54 months.

About RECPDCL: REC Power Development and Consultancy Limited, RECPDCL, a wholly owned subsidiary of REC Limited, has been providing knowledge-based consultancy and expert project implementation services to several State power distribution companies/Power Departments of States. RECPDCL has also been implementing transmission projects in UTs of J&K and Ladakh.

RECPDCL has also been acting as Bid Process Coordinator (BPC) for Inter-state as well as Intrastate transmission projects and RE-Bundling projects implemented through Tariff Based Competitive Bidding (TBCB). RECPDCL with its expert consulting, project implementation and transaction advisory services is thus playing a key role across the power sector value chain of the country.

About REC LIMITED :

REC is a ‘Maharatna’ company under the administrative control of the Ministry of Power, Government of India, and is registered with RBI as Non-Banking Finance Company (NBFC), Public Financial Institution (PFI) and Infrastructure Financing Company (IFC). REC is financing the entire Power-Infrastructure sector comprising Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage, Pump Storage projects, Green Hydrogen, Green Ammonia projects etc. More recently REC Limited has also diversified into the Non-Power Infrastructure sector comprising Roads & Expressways, Metro Rail, Airports, IT Communication, Social and Commercial Infrastructure (Educational Institution, Hospitals), Ports and Electro-Mechanical (E&M) works in respect of various other sectors like Steel, Refinery, etc.

REC Limited provides loans of various maturities to State, Central and Private Companies for creation of infrastructure assets in the country. REC Limited continues to play a key strategic role in the flagship schemes of the Government for the power sector and has been nodal agency for Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGAYA), Deen Dayal Upadhaya Gram Jyoti Yojana (DDUGJY), National Electricity Fund (NEF) Scheme which resulted in strengthening of last mile distribution system, 100% village electrification and household electrification in the country. REC has also been made the nodal agency for certain States and Union Territories for the Revamped Distribution Sector Scheme (RDSS). REC has also been given the responsibility of PM Surya Ghar Muft Bijli Yojna from Central Government. The loan book of REC stands at ₹5.46 lakh crore and Net Worth at Rs. ₹72,893 crores as on 30th September, 2024.