New Delhi, Feb 15 (PTI) State-owned REC on Thursday said its arm RECPDCL has handed over Pachora Power Transmission SPV to GR Infraprojects.

The SPV was formed for the establishment of the Interstate Transmission Project for evacuation of power from renewable energy (RE) projects in Rajgarh (1,000 MW) SEZ in Madhya Pradesh-phase II through a tariff-based competitive bidding process, REC said in a statement.

Also Read | SBI SCO Recruitment 2024: Applications Open for 131 Managerial and Other Posts at sbi.co.in, Know How to Apply.

The special purpose vehicle (SPV) Pachora Power Transmission was handed over to the successful bidder GR Infraprojects in the presence of senior officials from RECPDCL.

Additionally, representatives from the Central Transmission Utility of India Limited (CTUIL) and other key stakeholders attended the event, it said.

Also Read | APPSC Group 2 Hall Ticket 2023 Released at psc.ap.gov.in: Admit Card for Group 2 Services Examination Out, Know Steps To Download.

RECPDCL, a wholly-owned subsidiary of REC Limited, has been acting as bid process coordinator (BPC) for tariff-based competitive bidding (TBCB) in transmission line projects and RE-bundling projects.

Under the Ministry of Power, REC Limited is a non-banking finance company (NBFC), and infrastructure financing company (IFC).

(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)