New Delhi, Mar 29 (PTI) REC Ltd on Wednesday said its wholly-owned subsidiary REC Power Development and Consultancy Ltd (RECPDCL) handed over Khavda II-A Transmission Ltd to Adani Transmission Ltd.

Khavda II-A Transmission Limited is a special purpose vehicle (SPV) in Gujarat.

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"RECPDCL handed over the project-specific SPV formed for the construction of transmission project viz., ‘Khavda II-A Transmission Limited to Adani Transmission Limited (ATL) on 28th March 2023," the company said in a statement.

ATL has emerged as the successful bidder of the inter-state transmission project of the ministry of power, where RECPDCL was the bid process coordinator.

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The SPV was handed over by Rahul Dwivedi, CEO, RECPDCL, to Ishwar Kailashnath Dubey, Vice President, Adani Transmission Limited.

The work involves the implementation of a 765 kV double circuit line from Khavda Pooling Station-2 (KPS2) to Lakadia. The project for implementation is targeted in 24 months.

With the handing over of the above SPV, RECPDCL successfully handed over 51 transmission projects till now, costing around Rs 69,872 crore.

REC Ltd, under the power ministry, is a non-banking finance company focussing on financing projects in the power sector.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)