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Business News/ Companies / News/  RECPDCL hands over transmission SPV to IndiGrid
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RECPDCL hands over transmission SPV to IndiGrid

The SPV had been formed for the construction of transmission project for supplying electricity from 1 gigawatt (GW) renewable energy projects in Osmanabad 

REC Power Development and Consultancy is a subsidiary of state-run REC.Premium
REC Power Development and Consultancy is a subsidiary of state-run REC.

New Delhi: State-run REC Limited’s subsidiary REC Power Development and Consultancy Ltd (RECPDCL) handed over the special purpose vehicle (SPV) formed for the construction of transmission project for supplying electricity from 1 gigawatt (GW) renewable energy projects in Osmanabad to IndiGrid 1 Limited and IndiGrid 2 Limited on Tuesday.

This comes in the backdrop of ministries of power and new and renewable energy approving 23 Inter State Transmission System Projects (ISTS) with an estimated cost of Rs15,893 crore.

“Consortium of IndiGrid 1 Limited and IndiGrid 2 Limited has been the successful bidder of the Inter-State Transmission Project of Ministry of Power, GoI and RECPDCL as the Bid Process Coordinator," REC said in a statement.

India’s non-fossil fuel-based capacity has met the 40% target under its nationally determined contribution (NDC) at COP 21. According to the government, installed power capacity from non-fossil fuels will go up to 66% by 2030. Also, India has already reached an emission reduction of 28%.

“The selection of successful bidder was carried out through Tariff Based Competitive Bidding (TBCB) process 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 400/220 kV Sub-station at Kallam and LILO of 400 kV double circuit Parli – Pune transmission line. The project is targeted for completion in 18 months," the statement added.

India recently announced to cut net carbon emissions to zero by 2070 at COP26 in Glasgow. According to the Central Electricity Authority, by 2030, the country’s power requirement would be 817GW, more than half of which would be clean energy, and 280GW would be from solar energy alone.

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Published: 29 Dec 2021, 02:42 PM IST
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