"REC Transmission Projects, an arm of REC has incorporated three project specific Special Purpose Vehicles (SPVs) as its subsidiaries," REC said in a filing to the BSE.
The three SPVs -- Vemagiri II Transmission Limited, NER II Transmission Limited and Alipurduar Transmission Limited -- have been absorbed as subsidiaries of REC Transmission Projects.
The transmission projects or schemes include the strengthening of transmission system beyond Vemagiri, NER system strengthening system - II, and transmission system strengthening in Indian system for transfer of power from new hydel plants in Bhutan.
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