The newly incorporated entity, Rajgarh III Power Transmission is also a subsidiary of REC.
The company has been incorporated for transmission system for evacuation of power from RE projects in Rajgarh (1500 MW) SEZ in Madhya Pradesh-Phase III.
Rajgarh III Power Transmission has been incorporated on December 24, 2024 with a paid up capital of Rs 5 lakh. After selection of the successful bidder in accordance with the Tariff Based Competitive Bidding (TBCB) guidelines, said company would be transferred to the successful bidder along with all assets & liabilities.
RECPDCL acts as the ‘BPC’ for selection of transmission service provider through TBCB process, for independent inter-state and intra-state transmission project assigned by the Ministry of Power and State Governments from time to time.
REC, a Navratna company under the Ministry of Power, provides financial assistance to the power sector in all segments. It funds its business with market borrowings of various maturities, including bonds and term loans apart from foreign borrowings.
REC reported 6.54% rise in consolidated net profit to Rs 4,037.72 crore on 17.23% increase in revenue from operations to 13,682.43 crore in Q2 FY25 over Q2 FY24.