REC Transmission Projects company gets approval for formation of SPVs

The companies to be incorporated will also be wholly-owned subsidiary companies of REC

REC, Special Purpose Vehicles, REC Transmission Projects Company, RECTPCL, Osmanabad, Maharashtra, Evacuation of power, Madhya Pradesh, Rajgarh SEZ, Solar Energy Zone, Gadag, Karnataka, Bidar, Rajasthan, Companies Act 2013

The Board of Directors of REC has approved the proposal for incorporation of seven projects specific special purpose vehicles (SPVs) as wholly-owned subsidiaries of REC Transmission Projects Company (RECTPCL).

The seven transmission projects include transmission system for evacuation of power from RE projects in Osmanabad area (one GW) in Maharashtra; transmission system for evacuation of power from RE projects in Rajgarh (2,500 MW) SEZ in Madhya Pradesh; Transmission Scheme for Solar Energy Zone in Gadag (2,500 MW), Karnataka Part A.

The other projects include transmission scheme for solar energy zone in Bidar (2,500 MW), Karnataka; transmission system strengthening scheme for evacuation of power from solar energy zones in Rajasthan (8.1 GW) under Phase-II Part A; transmission system strengthening for evacuation of power from solar energy zones in Rajasthan (8.1 GW) under Phase-II Part B; and transmission system strengthening scheme for evacuation of power from solar energy zones in Rajasthan (8.1 GW) under Phase-II Part C.

The companies to be incorporated will also be wholly-owned subsidiary companies of REC as per provisions of Section 2(87) of the Companies Act 2013.

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