REC’s to transfer stake in Ramgarh-II Transmission to Powergrid

REC Limited’s board has approved the sale and transfer of the entire shareholding of Ramgarh-II Transmission Limited, presently held by REC Power Development and Consultancy Limited (RECPDCL), to Power Grid Corporation of India Limited (Powergrid).

Powergrid secured the winning bid through tariff-based competitive bidding process. The sale and transfer of Ramgarh-II Transmission are expected to be completed during 2023-24.