REC forms SPV for Vizag green hydrogen transmission project

REC Limited has incorporated Vizag Power Transmission Limited as a wholly owned subsidiary through REC Power Development and Consultancy Limited (RECPDCL). The special purpose vehicle was established on February 16, 2026 for the project titled “Transmission system for proposed Green Hydrogen / Green Ammonia projects in Vizag area, Andhra Pradesh (Phase-I).”

The incorporation follows a Gazette Notification issued by the Ministry of Power, Government of India, on December 26, 2025, allocating an inter-state transmission project in the region. RECPDCL has been designated as the Bid Process Coordinator (BPC) for selection of a Transmission Service Provider (TSP) through the Tariff-Based Competitive Bidding (TBCB) process for Phase-I.

Vizag Power Transmission Limited has been incorporated with an authorised and paid-up capital of Rs 5,00,000. The company has not commenced commercial operations and has no turnover to date. After the successful bidder is selected under the TBCB process, the subsidiary will be transferred to the selected entity along with its assets and liabilities, in line with applicable guidelines.

The entity will develop transmission infrastructure to support green energy projects in the Vizag area. The project is intended to facilitate power evacuation from proposed Green Hydrogen and Green Ammonia facilities.

The transaction involves 100% subscription to the equity share capital in cash at face value. The promoter and promoter group entities have no interest in the subsidiary other than through their shareholding in REC Limited.

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