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REC Power Development and Consultancy Limited (RECPDCL), a subsidiary of Maharatna NBFC, REC Limited, which is part of the Ministry of Power, has handed over five Special Purpose Vehicles (SPVs) for Inter State Transmission System (ISTS) projects.
Power Grid Corporation of India Limited (PGCIL), a partnership of Indigrid 2 Limited and Indigrid 1 Limited, and Apraava Energy Private Limited were the selected bidders for this effort, designed to promote the tariff-brd competitive bidding process.
The SPVs were handed over to the successful bidders on February 9, 2024, in the presence of RECPDCL CEO Rajesh Kumar and senior officials from RECPDCL, REC Limited, PGCIL, Central Electricity Authority (CEA), and CTUIL. This move is a part of the government's broader strategy to meet the country's increasing electricity demand through enhancing renewable power reforms.
RECPDCL CEO, Rajesh Kumar said: “RECPDCL is putting in all possible efforts to ensure the growth of renewable power reforms to cater to the country's electricity demand. Tariff-brd Competitive Bidding (TBCB) for developing transmission systems for evacuation of renewable energy is one such noble mission, and RECPDCL is privileged to be a Bid Process Coordinator for the award of projects through the TBCB route.”
Furthermore, RECPDCL also presented Letters of Award (LOAs) to Avaada Energy Private Limited and Juniper Green Energy Private Limited to establish 100 MW wind power projects under the Damodar Valley Corporation. These LOAs were given under the Ministry of Power's “Scheme for flexibility in generation and scheduling of thermal/hydro power stations through bundling with renewable energy and storage power. "
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