Business News | RECPDCL Handovers Ratle Kiru Transmission SPV to IndiGrid Under TBCB Route
Get latest articles and stories on Business at LatestLY. IndiGrid 2 Private Limited emerged as the Transmission Service Provider (TSP) through the Tariff-Based Competitive Bidding (TBCB) process conducted by RECPDCL, the Bid Process Coordinator for developing the transmission project on a Build, Own, Operate, and Transfer (BOOT) basis.
New Delhi [India], March 25 (ANI): REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, the Maharatna CPSU under the aegis of the Ministry of Power, handed over the project-specific SPV (Special Purpose Vehicle) of the ISTS Transmission Project under the TBCB route, viz, Ratle Kiru Power Transmission Limited to IndiGrid 2 Private Limited on March 24th March 2025 at Gurugram.
According to a release by RECPDCL, IndiGrid 2 Private Limited emerged as the Transmission Service Provider (TSP) through the Tariff-Based Competitive Bidding (TBCB) process conducted by RECPDCL, the Bid Process Coordinator for developing the transmission project on a Build, Own, Operate, and Transfer (BOOT) basis.
T.S.C. Bosh, CEO of RECPDCL, handed over the SPV to Puneet Singh Chauhan, Vice President & Head (Commercial) of IndiGrid 2 Private Limited, in the presence of senior officials of RECPDCL, IndiGrid 2 Private Limited, and Central Transmission Utility of India Limited. The project's implementation period is 24 months.
The scheme covers the construction of 150 kms of 400 KV transmission line between Samba (J-K) and Jalandhar (Punjab), 35 kms of 400 KV line between Kishenpur (J-K) and Samba, including other associated works. The estimated cost of the project is around Rs. 1,407.44 Crore.
REC Limited is an NBFC focusing on Power Sector Financing and Development across India. Established in 1969, REC Ltd. has completed over fifty-five years in the area of its operations.
It provides financial assistance to complete the power-sector value chain for various types of projects, including Generation, Transmission and distribution, and Renewable Energy.
Recently, REC has also diversified into the non-power Infrastructure and logistics sector to cover areas such as airports, metros, railways, ports, bridges, etc.
REC Power Development and Consultancy Limited, a wholly owned subsidiary of REC Limited, has been providing knowledge-based consultancy and expert project implementation services to several state power distribution companies/power departments of states. RECPDCL has also been implementing transmission projects in the UTs of J-K and Ladakh.
RECPDCL has also been acting as Bid Process Coordinator (BPC) for Inter-state as well as Intrastate transmission projects and RE-bundling projects implemented through tariff-based Competitive Bidding (TBCB).
RECPDCL with its expert consulting, project implementation and transaction advisory services is thus playing a key role across the power sector value chain of the country. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)