Rural Electrification Corp today said its wholly-owned arm REC Transmission Projects has handed over project specific SPV to Power Grid Corporation of India Ltd.
"REC Transmission Projects Company Ltd...has handed over project specific Special Purpose Vehicle (SPV) namely ERSS XXI Transmission Limited to Power Grid Corporation of India Ltd (PGCIL)," the company said in a statement.
Competing with private players in the sector, PGCIL quoted the lowest levelised tariff.
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"Transmission project involves establishment of three sub-stations, four transmission lines and two sub-station extension works in eastern region," the statement said.
The selection was carried out based on the standard bidding documents and guidelines notified by the power ministry forselection of transmission developers on build, own, operate and maintain basis through tariff based competitive bidding route.
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