REC Power Development and Consultancy (RECPDCL), a wholly owned subsidiary of REC , the Maharatna CPSU under the aegis of Ministry of Power & a leading NBFC, handed over 2 project specific SPVs (Special Purpose Vehicles). viz, Khavda IV A Power Transmission to Adani Energy Solutions and Khavda IV C Power Transmission to Sterlite Grid 38 today at Gurugram. The projects are intended for evacuation of power from potential renewable energy zone in Khavda area of Gujarat under Phase-IV (7 GW).
Adani Energy Solutions (AESL) and Sterlite Grid 38 (a subsidiary of Sterlite Power Transmission) emerged as the Transmission Service Providers (TSP) for Khavda Ph IV Part A and Part C projects respectively through Tariff-based Competitive Bidding (TBCB) process conducted by RECPDCL, the Bid Process Coordinator, for development of the above transmission projects on Build, Own, Operate & Transfer (BOOT) basis.
The project Khavda IV A Power Transmission covers construction of 310.31 kms of 765 KV line, creation of 765 KV & 400 KV bus sections at KPS3 GIS substation and associated works. The project Khavda IV C Power Transmission covers establishment of 765/400 KV, 4 X 1500 MVA and 400/220 KV, 2 X 500 MVA Boisar-II (GIS) substation, construction of 257.29 Km of 765 KV line and 20.725 km of 400 KV line.
The SPVs were handed over by T.S.C. Bosh, CEO, RECPDCL to Sanjay Johari, Vice President, Adani Energy Solutions and Tatimakula Amarendranath Reddy, Executive Vice President, Sterlite Power Transmission , in the presence of Senior Officials of RECPDCL, AESL, SPTL and Central Transmission Utility of India. The projects are targeted for implementation in 24 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.
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