REC Limited Divests Two Power Transmission Subsidiaries for ₹2.63 Crore

January 9, 2026 — Maharatna CPSE REC Limited has finalized the sale and transfer of two project-specific Special Purpose Vehicles (SPVs) to private sector winners. The transactions were conducted via its wholly owned subsidiary, REC Power Development and Consultancy Limited (RECPDCL), following a Tariff-Based Competitive Bidding (TBCB) process.

Both entities ceased to be subsidiaries of REC Limited effective January 9, 2026, upon receipt of full consideration.

The consideration received includes professional fees and reimbursement of expenses:

Velgaon Power Transmission Limited: Rs 1.06 crore (approx) including taxes

Jejuri Hinjewadi Power Transmission Limited: Rs 1.57 crore (approx) including टैक्सेज

Project Specifications

These projects are critical for strengthening Maharashtra’s intra-state grid and will be developed on a Build, Own, Operate, and Transfer (BOOT) basis:

Velgaon Project: Focuses on establishing a 400/220 kV GIS Substation at Velgaon to support regional power reliability.

Jejuri Hinjewadi Project: Involves constructing a 400 kV double circuit line (~115 km) to address transmission 

Governance & Strategic Alignment

REC Limited clarified that these sales align with Ministry of Power guidelines and do not constitute related party transactions. The consideration received primarily covers professional fees and reimbursement of expenses incurred by RECPDCL as the Bid Process Coordinator.

This move allows REC to maintain its focus on its core business while transitioning specialized infrastructure projects to experienced industry operators for execution.

Would you like me to find the detailed project timelines for these transmission lines or more information on Tata Power’s recent infrastructure acquisitions?