REC incorporates two power transmission subsidiaries
RECLTD · price
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REC Limited has incorporated two new wholly owned subsidiaries through its unit RECPDCL: Beed Parli Power Transmission Limited and Yavatmal Power Transmission Limited. Both are SPVs set up for intra-state transmission projects in Maharashtra, with paid-up capital of about five lakh rupees each. RECPDCL will act as Bid Process Coordinator for these 765 kV and 400 kV projects under the Tariff Based Competitive Bidding route. After selection of the winning bidder, the SPVs will be transferred along with assets and liabilities.
Routine incorporation of project SPVs; no material financial impact as both entities will be transferred to winning bidders after the bidding process.