REC’s subsidiary handover SPVs to L&T IDPL & Power Grid

REC’s subsidiary handover SPVs to L&T IDPL & Power Grid

REC Transmission Projects Company Limited, a wholly owned subsidiary of Rural Electrification Corporation Ltd, – a ‘Navratna’ Central Public Sector Undertaking, under Ministry of Power, has handed over on August 30, 2013 project specific Special Purpose Vehicle (SPV) namely Kudgi Transmission System Limited to M/s L&T Infrastructure Development Projects Limited and Vizag Transmission Limited to M/s Power Grid Corporation of India Limited who had emerged as the successful bidders.

Competing alongside with the public and private sector majors, M/s L&T Infrastructure Development Projects Limited quoted the lowest levellised tariff of Rs. 1795.8652 million per annum for Transmission System required for evacuation of power from Kudgi TPS of NTPC Limited. The transmission project involves establishment of Kudgi TPS – Narendra (New) 400 kV 2 x D/C quad lines, Narendra (New) – Madhugiri 765 kV D/C line and Madhugiri – Bidadi 400 kV D/C (quad) line.

M/s Power Grid Corporation of India Limited quoted the lowest levellised tariff of Rs. 2311.34 million per annum for Transmission system for System Strenghtening in Southern Region for import of power from Eastern Region.  The transmission project involves establishment of Srikakulam Pooling Station – Vemagiri Pooling station 765 kV D/C line and Khammam-Nagarjun Sagar 400kV D/C lines.

The selection was carried out based on the Standard Bidding Documents and Guidelines notified by Ministry of Power, Government of India for  selection of transmission developers on Build, Own, Operate & Maintain (BOOM) basis through tariff based competitive bidding route.

Appointed as Bid Process Coordinator by Ministry of Power, GoI, REC Transmission Projects Company Limited  has so far awarded six transmission projects with an aggregate value of Rs. 8220 crore through tariff based competitive bidding route.