State-owned REC Ltd. on Thursday said its arm RECPDCL has handed over two project-specific special purpose vehicles to Power Grid and Techno Electric. The two project-specific SPVs are Khavda IV-E2 Power Transmission Ltd and NERES XVI Power Transmission Ltd, REC said in a statement.
"Wholly-owned subsidiary REC Power Development and Consultancy Ltd. has handed over Khavda IV-E2 Power Transmission Ltd to Power Grid and NERES XVI Power Transmission Ltd to Techno Electric," the company said.
Khavda IV-E2 Power Transmission Ltd and NERES XVI Power Transmission Ltd were formed for the implementation of Inter-State Transmission Schemes of the Ministry of Power for transmission system for evacuation of power, it said.
The respective transmission service providers were selected through a tariff-based competitive bidding process.
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