REC’s subsidiary RECPDCL handed over SPV ‘GADAG II-A Transmission Limited’, to M/s ReNew Transmission Ventures Private Limited over on 18th November, 2022

Sarkaritel
By Sarkaritel November 22, 2022 20:24

REC’s subsidiary RECPDCL handed over SPV ‘GADAG II-A Transmission Limited’, to M/s ReNew Transmission Ventures Private Limited over on 18th November, 2022


New Delhi, Nov 22: 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 the project specific SPV (Special Purpose Vehicle), formed for construction of Transmission Project viz., ‘GADAG II-A Transmission Limited’ to M/s ReNew Transmission Ventures Private Limited (RTVPL) on 18thNovember 2022.

M/s ReNew Transmission Ventures Private Limited has been the successful bidder of the Inter-State Transmission Project of Ministry of Power, Government of India and RECPDCL was the Bid Process Coordinator.

The SPV has been handed over by Shri R. Lakshmanan, CEO, RECPDCL to Shri. Amit Kumar, Whole time Director from M/s ReNew Transmission Ventures Private Limited in the presence of other senior officials of RECPDCL, RTVPL& Central Transmission Utility India Ltd (CTUIL).

The selection of M/s ReNew Transmission Ventures Private Limited was carried out through Tariff Based Competitive Bidding (TBCB) carried for selection of Transmission Developers in line with the Standard Bidding Documents and Guidelines thereof as notified by Ministry of Power, Government of India.

The work involves establishment of  3×500 MVA ICT Augmentation at Gadag  Pooling Station with associated works, 2 nos. of 400 kV line bays at each end of Gadag PS and Koppal PS 400 kV D/c line and associated works including around 48 Kms of 400 kV double circuit transmission lines. The project for implementation is targeted in 18 months.

With the handing over of the above SPV, RECPDCL successfully handed over 42 transmission project till now costing around Rs 54,949 crores.

Sarkaritel
By Sarkaritel November 22, 2022 20:24