New Delhi | January 10, 2026 — REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of the Maharatna CPSU REC Limited, has formally transferred the project-specific Special Purpose Vehicle (SPV), Velgaon Power Transmission Limited, to Ceigall India Limited.

The handover follows the conclusion of the Tariff Based Competitive Bidding (TBCB) process, where Ceigall India Limited emerged as the successful bidder. RECPDCL acted as the Bid Process Coordinator for this Intra-State Transmission Project in Maharashtra.

Project Overview and Implementation

The project will be executed on a Build, Own, Operate, and Transfer (BOOT) basis, aimed at modernizing the regional power grid to meet rising energy demands.

Formal Handover Ceremony

The SPV was officially transferred on January 9, 2026. Shri Vijay Kulkarni (Senior General Manager & Head of T&D, RECPDCL) handed over the documents to Dr. Sudhir Rao Hoshing (Whole-time Director, Ceigall India Limited). The ceremony was attended by senior officials from the Maharashtra State Transmission Utility and both participating companies.