REC sets up two SPVs for Bihar, Maharashtra transmission projects
REC Limited’s wholly owned subsidiary, REC Power Development and Consultancy Limited (RECPDCL), has incorporated two special purpose vehicles (SPVs) as wholly owned subsidiaries to develop intra-state transmission projects through the tariff-based competitive bidding (TBCB) route.
Vikramshila Power Transmission Limited was incorporated on August 24, 2026, with its Certificate of Incorporation received on August 25, 2026. The company has been formed for the “Evacuation of Power from 3×800 MW STPP Pirpainti”, following a Gazette Notification dated May 7, 2026, issued by the Government of Bihar, under which RECPDCL was nominated as the Bid Process Coordinator (BPC).
Alkud II Power Transmission Limited was incorporated on August 25, 2026, for the “Establishment of 765/400/220 kV AIS Alkud-II/Jath (Dist. Sangli)”. RECPDCL was nominated as BPC for the project through a Gazette Notification dated July 10, 2026, issued by the Government of Maharashtra.
Following selection of the successful bidder under the TBCB guidelines, each SPV will be transferred to the successful bidder along with its assets and liabilities. The acquisition consideration will comprise 100% subscription to the equity share capital in cash at face value.
Maharashtra project
The Alkud-II/Jath project involves establishment of a new 765/400/220 kV air-insulated substation (AIS) at Alkud-II/Jath, with 6,000 MVA of 765/400 kV transformation capacity and 1,000 MVA of 400/220 kV transformation capacity, along with associated transmission lines.
The planned network will connect the Alkud-II/Jath substation with the existing Alkud substation and proposed Kandalgaon substation. It will also integrate the new facility with the Satara-Kolhapur, Jath-Mhaishal and Vita-Khanapur transmission corridors, along with 220 kV connections to the Ghatnandre and Wayphale substations.
Bihar project
The Vikramshila Power Transmission Limited SPV has been formed to develop the intra-state transmission system for evacuation of power from the 3×800 MW Super Thermal Power Project (STPP) at Pirpainti in Bhagalpur.
The project includes four Gas Insulated Substations (GIS) at Jhanjharpur, Bethauli, Begusarai and Begusarai Town, along with associated 400 kV, 220 kV and 132 kV transmission lines. A 400/220/132 kV substation is planned at Jhanjharpur in Madhubani, while Bethauli in Darbhanga will have a 220/132/33 kV substation. The project also includes a 400/220 kV substation at Begusarai and a 220/33 kV facility at Begusarai Town.
The transmission network will provide 400 kV connectivity from Pirpainti to Jhanjharpur and Begusarai, as well as a Begusarai-Bakhtiyarpur link. Additional 220 kV and 132 kV infrastructure will connect the new substations with the existing state transmission network.
The featured photograph is for representation only.
