REC Power Development and Consultancy (RECPDCL), a wholly owned subsidiary of REC , the Maharatna CPSU under the aegis of Ministry of Power, handed over a project specific SPV (Special Purpose Vehicle). viz, Bhadla-III Power Transmission to M/s Power Grid Corporation of India (PGCIL) on 28th August 2024 at Gurugram.
Power Grid Corporation of India (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 above transmission project on Build, Own, Operate & Transfer (BOOT) basis.
The project covers augmentation of Bhadla-III PS with 765/400 kV, 2x1500 MVA & 400/220 kV, 2x500 MVA Interconnecting Transformers (ICT) and associated works.
The SPV was handed over by T.S.C. Bosh, CEO, RECPDCL to Pankaj Pandey, Executive Director, PGCIL and Satyaprakash Dash, Company Secretary, PGCIL in the presence of Senior Officials of RECPDCL, PGCIL and Central Transmission Utility of India. The project is targeted for implementation in 18 months.
REC Power Development and Consultancy , RECPDCL, a wholly owned subsidiary of REC , 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.
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 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 provides loans of various maturities to State, Central and Private Companies for creation of infrastructure assets in the country. REC 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 Rs 5.30 lakh crore and Net Worth at Rs 72,351 crore as on 30th June, 2024.
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