REC Power Distribution Company Limited (RECPDCL), a solely owned subsidiary of REC Limited under Ministry of Power, has turned over two projects specific Special Purpose Vehicles (SPVs) 'Fatehgarh Bhadla Transco Limited' & 'Sikar New Transmission Limited' to Power Grid Corporation of India Limited.
The selection of Power Grid Corporation was put into effect through Tariff Based Competitive Bidding (TBCB) for selection of Transmission Developers in line with the Standard Bidding Documents and Guidelines therefrom as reported by Ministry of Power, Government of India.
REC Limited is a Navratna NBFC concentrating on Power Sector Financing and Development across India. REC offers financial assistance to state electricity boards, state governments, central/state power utilities, independent power producers, rural electric cooperatives and private segment utilities. Its business activities include financing projects in the complete power sector value chain.
"On World Environment Day, the company has launched a unique initiative Zinc Eco Buddies – a virtual platform where anyone can click and take a green pledge and Hindustan Zinc will plant a tree on ground in their name," the company informed in a statement.