REC subsidiaries transfer 6 projects to Power Grid Corporation

REC Power Development and Consultancy Limited, a subsidiary of REC transferred six projects at par value along with all its assets and liabilities to Power Grid Corporation on March 21, 2023, the company announced through an exchange filing. Power Grid Corporation was the successful bidder selected through tariff based competitive bidding process.

The company has transferred the Transmission scheme for evacuation of 4.5 GW RE injection at Khavda P.S. under Phase-II - Part B, Transmission scheme for evacuation of 4.5 GW RE injection at Khavda PS under Phase-II - Part C, Transmission Network Expansion in Gujarat associated with integration of RE projects from Khavda potential RE Zone, Establishment of Khavda Pooling Station-2 (KPS2) in Khavda RE Park, Establishment of Khavda Pooling Station-3 (KPS3) in Khavda RE Park and Inter-Regional ER-WR Interconnection projects to the Power Grid Corporation of India Limited.

REC Limited shares

The shares of REC Limited on Wednesday at 1:44 pm IST, were at Rs 119.30.