Gurugram: REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, the NBFC Maharatna Company, a CPSE under the aegis of the Ministry of Power, handed over the project-specific SPV (Special Purpose Vehicle) formed for the construction of the Transmission Project 'Ramgarh II Transmission Limited' to Power Grid Corporation of India (PGCIL) Limited on October 26, 2023.
The selection of M/s Power Grid Corporation of India Limited was carried out through Tariff-Based Competitive Bidding (TBCB) conducted by RECPDCL for the selection of a Transmission Service Provider in line with the Standard Bidding Documents and Guidelines as notified by the Ministry of Power, Government of India.
The SPV work is associated with the ambitious 500 GW Renewable Energy plan of the Government of India. The work involves the implementation of a 765/400kV & 2x500 MVA 400/220 kV pooling station at Ramgarh, along with a 765kV D/c line (Ramgarh PS to Bhadla-3 PS) in the state of Rajasthan. The project's implementation is targeted to be completed in 18 months. After implementation, it will help evacuate Renewable Energy power from Renewable Energy Zones (REZs) in the state of Rajasthan.
The SPV was handed over by Shri Rajesh Kumar, CEO, RECPDCL, to Shri Pankaj Pandey, Executive Director, PGCIL, in the presence of Shri Jasbir Singh, Executive Director, CTUIL; Shri P.S. Hariharan, CGM, RECPDCL, and other senior officials of RECPDCL, CTUIL, and PGCIL.
With the handing over of the above SPV, RECPDCL has successfully handed over 54 transmission projects to date, costing around Rs 75,000 crore.
/BI
