RECPDCL Hands Over 5 SPVs to successful bidders

RECPDCL Hands Over 5 SPVs to successful bidders

FPJ BureauUpdated: Monday, February 12, 2024, 12:37 AM IST
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REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited the NBFC Maharatna Company, CPSU under the aegis of Ministry of Power, handed over five project specific SPVs (Special Purpose Vehicles), formed for construction of Inter State Transmission Projects through tariff based bidding process on 09th February 2024.

M/s Power Grid Corporation of India Limited (PGCIL), M/s Indigrid 2 Limited & Indigrid 1 Limited (Consortium) and M/s Apraava Energy Private Limited were the successful bidders for the ISTS Transmision Projects of Ministry of Power, Government of India and RECPDCL was the Bid Process Coordinator.

The SPVs were handed over to M/s Power Grid Corporation of India Limited (PGCIL), M/s Indigrid 2 Limited & Indigrid 1 Limited (Consortium) and M/s Apraava Energy Private Limited in presence of Rajesh Kumar, CEO, RECPDCL and senior officials of RECPDCL, REC Limited, PGCIL & CTUIL.

On this occasion, Rajesh Kumar, Chief Executive Officer, RECPDCL, said, “In line with the visionary directions of R. K. Singh - Hon’ble Cabinet Minister (Power, New & Renewable Energy), and Pankaj Agarwal - Hon’ble Secretary (Power), RECPDCL is putting in all possible efforts to ensure the growth of renewable power reforms to cater to the electricity demand of the country. Tariff-based Competitive Bidding for the development of transmission system for evacuation of RE power is one such noble mission and RECPDCL is privileged to be a Bid Process Coordinator for award of projects through TBCB route.”

Also, on the occasion, RECPDCL handed over Letters of Award (LOAs) to successful bidders viz. M/s Avaada Energy Private Limited and M/s Juniper Green Energy Private Limited for setting up 100 MW wind power projects of DVC under the “Scheme for flexibility in Generation and Scheduling of Thermal/ Hydro Power Stations through bundling with Renewable Energy and Storage Power” issued by Ministry of Power, Govt. of India.

Other officials from REC Limited, Central Electricity Authority (CEA), Central Transmission Utility of India (CTUIL) & other stakeholders were also present at the event.

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