REC Power Development & Consultancy Limited (RECPDCL) has transferred the special purpose vehicle (SPV): Bhadla-III Power Transmission Limited to Power Grid Corporation of India Limited (Powergrid).
The project augments the Bhadla-III PS with 765/400 kV, 2×1500 MVA & 400/220 kV, 2×500 MVA interconnecting transformers and associated works. Powergrid was selected as the transmission service provider through a tariff-based competitive bidding process with the share purchase agreement executed between RECPDCL and Powergrid. The consideration for this transfer includes a fee of Rs 50 million and reimbursement of expenses. The project will be developed on a build, own, operate and transfer basis.
