REC and PFC incorporate new subsidiaries for transmission projects

REC Limited and Power Finance Corporation Limited (PFC) have announced the formation of new wholly owned subsidiaries to serve as project vehicles for upcoming power transmission schemes in Karnataka, Rajasthan, and Maharashtra.

REC has incorporated Kempegowda Power Transmission Limited and Barmer HVDC Power Transmission Limited as subsidiaries of REC Power Development and Consultancy Limited (RECPDCL), a wholly owned arm of REC.  

Kempegowda Power Transmission Limited was formed to serve as the special purpose vehicle (SPV) for developing “Establishment of 400 kV Kempegowda Layout in Bengaluru Urban.” 

Barmer HVDC Power Transmission Limited was created to oversee “Establishment of Transmission System for Evacuation of Power from Rajasthan REZ Ph-IV (Part-5:6 GW) [Barmer Complex] Barmer-II: 6 GW (Solar) (LCC Configuration).”

RECPDCL has been designated as the Bid Process Coordinator (BPC) for selecting developers through the Tariff-Based Competitive Bidding (TBCB) route.  

Separately, PFC announced the incorporation of South Kalamb Power Transmission Limited under its wholly owned subsidiary PFC Consulting Limited (PFCCL). The SPV, established on 30 September 2025, will implement the “Network Expansion Scheme for drawal of power at South Kalamb Substation: Part A.”