REC Limited, through its wholly-owned subsidiary REC Power Development and Consultancy Limited (RECPDCL), has incorporated three new wholly-owned subsidiaries: Bikaner V Part D Power Transmission Limited, Bikaner V Part C Power Transmission Limited, and YEIDA Power Transmission Limited. These entities are established to undertake specific power transmission projects, with authorized and paid-up capital of ₹5,00,000/- each. The incorporation is a strategic step towards developing crucial inter-state and intra-state transmission infrastructure.
REC Limited Establishes Three New Power Transmission Subsidiaries
REC Limited announced the incorporation of three new wholly-owned subsidiaries, further strengthening its project development capabilities in the power sector. These new entities were established through REC Power Development and Consultancy Limited (RECPDCL), a wholly-owned subsidiary of REC Limited itself. The three newly incorporated companies are: Bikaner V Part D Power Transmission Limited, Bikaner V Part C Power Transmission Limited, and YEIDA Power Transmission Limited.
Strategic Expansion in Power Transmission
Each of these subsidiary companies has been incorporated with an authorized and paid-up capital of ₹5,00,000/-. They are positioned to focus on the development of critical power transmission infrastructure. Specifically, the Bikaner entities are linked to the evacuation of power as part of the Rajasthan REZ Ph-IV (Part-6: 6GW) project, identified as Bikaner Complex (Bikaner V: 6GW) – Part D and Part C respectively. The YEIDA Power Transmission Limited is established for the construction of a 400/220 kV, 3×500 MVA GIS substation Sector-28 Yeida (Gautambudh Nagar) with associated lines and bays, an intra-state transmission project.
Regulatory Approvals and Project Coordination
The incorporation aligns with Gazette Notifications and letters from the Ministry of Power and U.P. Power Transmission Corporation Limited. RECPDCL has been appointed as the Bid Process Coordinator (BPC) for these projects. The companies are newly incorporated and have not yet commenced business operations, with their financial performance not applicable at this stage. The successful bidder for these projects will be determined through the Tariff Based Competitive Bidding (TBCB) process, with all assets and liabilities to be transferred accordingly.
Corporate Structure and Related Party Transactions
As wholly-owned subsidiaries of RECPDCL, these newly incorporated entities are considered related parties of REC Limited. The promoter, promoter group, and group companies of REC Limited do not have any direct interest in these specific subsidiaries, other than through their shareholding in the parent company. The incorporation is conducted at arm’s length, with a 100% subscription to the equity share capital in cash at face value for the acquisition cost.
Source: BSE
