REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, has incorporated a special purpose vehicle (SPV) named Rajgarh Neemuch Power Transmission Limited for two transmission projects in Madhya Pradesh.
The SPV has been set up for the evacuation of power from renewable energy projects in Rajgarh (1,500 MW) under Madhya Pradesh Phase-III and from renewable energy projects in Neemuch (1,000 MW) Special Economic Zones under Madhya Pradesh Phase-II. The Ministry of Power appointed RECPDCL as the bid process coordinator for selecting a transmission service provider under the tariff based competitive bidding route. The SPV will be transferred to the successful bidder along with all associated assets and liabilities upon conclusion of the bidding process.