Gurugram: REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, a NBFC Navratna PSU CPSU under the aegis of Ministry of Power, handed over the project specific SPV (Special Purpose Vehicle) formed for construction of Transmission Project viz., ‘Neemuch Transmission Limited’ to M/s Power Grid Corporation of India Limited on 24 August.
M/s Power Grid Corporation of India Limited emerged as the successful bidder of the Inter-State Transmission Project of the Ministry of Power, Government of India and RECPDCL as the Bid Process Coordinator.
The SPV has been handed over by Shri R. Lakshmanan, CEO, RECPDCL & Shri T.S.C. Bosh, ED & Jt. CEO, RECPDCL to Sh. A K Singhal, Executive Director from M/s Power Grid Corporation of India Limited in the presence of other senior officials of RECPDCL, PGCIL & CTUIL.
The selection of M/s Power Grid Corporation of India Limited was carried out through Tariff Based Competitive Bidding (TBCB) for selection of Transmission Developers in line with the Standard Bidding Documents and Guidelines thereof as notified by Ministry of Power, Government of India.
The work involves establishment of 2X500 MVA, 400/220 kV Pooling Station (AIS) at Neemuch and around 277 Kms of 400 kV double circuit transmission lines. The project is targeted for implementation in 18 months.