REC arm transfers Davanagere Power Transmission SPV to POWERGRID

State-owned REC on Wednesday said its arm has transferred Davanagere Power Transmission, a project special purpose vehicle (SPV), to Power Grid Corporation of India.

POWERGRID emerged as the top bidder as the transmission service provider through the tariff-based competitive bidding (TBCB) process conducted by REC Power Development and Consultancy Ltd (RECPDCL), the bid process coordinator, for development of the transmission project on a Build, Own, Operate & Transfer (BOOT) basis, according to a statement.