Held on 21 September 2017
The Board of Rural Electrification Corporation has approved the following -1. Incorporation of five Project Specific Special Purpose Vehicles (SPVs), as Wholly Owned Subsidiary Companies of REC Transmission Projects Company (RECTPCL) for development of Intra-State Transmission lines of Jharkhand State. The companies to be incorporated will also be Subsidiary Companies of REC, in terms of the provisions of Section 2(87) of the Companies Act, 2013; and
2. Sale and transfer of entire shareholding of REC Transmission Projects Company (a wholly owned subsidiary of REC) in ERSS XXI Transmission , to Power Grid Corporation of India, the successful bidder selected through Tariff based Competitive Bidding for development of Inter-State Transmission Project viz. Eastern Region Strengthening Scheme -XXI.
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