State-owned REC announced that its subsidiary, REC Power Development and Consultancy (RECPDCL), had transferred the Rajasthan-IV H-1 Power Transmission, a special purpose vehicle (SPV), to Power Grid Corporation of India (PGCIL).

PGCIL had been selected as the transmission service provider (TSP) through a tariff-based competitive bidding (TBCB) process, which was organised by RECPDCL, acting as the Bid Process Coordinator (BPC), for the development of the transmission project on a Build, Own, Operate & Transfer (BOOT) basis, as mentioned in a company statement.

The statement further indicated that RECPDCL officially transferred the SPV, Rajasthan-IV H-1 Power Transmission, to PGCIL on October 15, 2024, in Gurugram.

The SPV was handed over by T. S. C. Bosh, CEO of RECPDCL, to Satyaprakash Dash, Company Secretary of PGCIL. The project is planned to be implemented within 24 months.