REC’s subsidiaries transfer 6 projects to Power Grid Corporation
REC Power Development and Consultancy Ltd, a subsidiary of REC, will transfer the six projects along with all its assets and liabilities to Power Grid Corporation at par value on March 21, 2023, the company announced through an exchange filing. Power Grid Corporation was the successful bidder selected through a tariff based competitive bidding process.
The Company has transferred the transmission plan for evacuation of 4.5 GW RE injection at Khavda PS under Phase-II – Part B to Transmission plan for evacuation of 4.5 GW RE injection at Khavda PS under Phase-II – Part C , Transmission network expansion in Gujarat involving integration of RE projects from Khavda Potential RE Zone, Establishment of Khavda Pooling Station-2 (KPS2) at Khavda RE Park, Establishment of Khavda Pooling Station-3 (KPS3) at Khavda RE Park and Inter- Regional ER-WR interconnection projects return to Power Grid Corporation of India Limited.
REC Limited Shares
Shares of REC Ltd were at Rs 119.30 at 1:44 pm on Wednesday.
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