NEW DELHI — In a regulatory disclosure under SEBI Regulation 30, state-run power sector lender REC Limited announced the incorporation of two new wholly owned subsidiaries. The entities are designed as Special Purpose Vehicles (SPVs) to develop critical intra-state power transmission networks in Maharashtra.
The new companies have been established under REC Power Development and Consultancy Limited (RECPDCL), which functions as the Bid Process Coordinator (BPC) for the ventures.
Corporate Structure and Strategic Projects
The structural setup and operational scale of the newly formed entities focus on targeted regional transmission corridors:
-
Beed Parli Power Transmission Limited: Formally incorporated on July 17, 2026, this entity will oversee the development of the 765 kV AIS Parli network located in the Beed District of Maharashtra.
-
Yavatmal Power Transmission Limited: Formally incorporated on July 18, 2026, this subsidiary is designated to execute the 400 kV AIS Yavatmal (Babhulgaon) transmission infrastructure in the Yavatmal District.
-
Financial Framework: Both entities have been registered with a preliminary authorized and paid-up capital of ₹5 lakh each.
Regulatory Alignment and TBCB Divestment
The creation of these subsidiaries aligns with state infrastructure mandates and follows a structured exit strategy for the parent company:
-
State Mandate: The SPVs were established in accordance with the Government of Maharashtra’s Gazette Notification dated February 27, 2026, aimed at strengthening the state’s internal grid capacity.
-
Bidding and Transfer: Operating under the Tariff Based Competitive Bidding (TBCB) framework, RECPDCL will manage the tendering process. Once a successful developer is selected, the respective SPV will be completely transferred to the winning bidder alongside all associated assets and liabilities.
