REC’S Subsidiary RECPDCL Hands Over SPV To POWERGRID

  • REC Power Development and Consultancy Limited (RECPDCL), a wholly-owned subsidiary of REC Limited 
  • Handed over the project-specific SPV (Special Purpose Vehicle) formed for the construction of the Ramgarh II Transmission Limited transmission project.
  • To Power Grid Corporation of India (PGCIL) Limited.
  • The work of the SPV involves the implementation of a 765/400kV & 2×500 MVA 400/220 kV pooling station at Ramgarh in Rajasthan.
  • Targeted to be completed in 18 months.
  • After implementation, it would help in the evacuation of renewable energy from Renewable Energy Zones (REZs) in Rajasthan.

REC Limited

  • Maharatna Central Public Sector Enterprise under the Ministry of Power.
  • Is an NBFC focusing on Power Sector Financing and Development across India
  • Established in 1969.
  • Provides long-term loans and other finance products for the Power-Infrastructure sector comprising Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage and Green Hydrogen.
  • Also diversified into the core infrastructure sector comprising Roads, Metro, Airports, IT and Ports.
  • The Loan Book of REC stands at Rs 4.54 Lakh Crore, at the end of the first quarter of the current financial year.

POWERGRID

  • A Schedule ‘A’ ‘Maharatna’ Public Sector Enterprise under the Ministry of Power.
  • Was incorporated in October 1989.
  • India’s largest Electric Power Transmission Utility.
  • A listed Company, with the majority held by the Government of India and the balance being held by Institutional Investors and the public.
Posted in Current Affairs.