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REC: Sale And Transfer Of Kallam Transmission Limited Wholly Owned Subsidiary Of RECPDCL And Also Of REC.

This is to inform that Kallam Transmission Limited a special purpose vehicle (SPY) and wholly owned subsidiary of REC Power Development and Consultancy Limited (RECPDCL) which is a wholly owned subsidiary of REC was incorporated to establish transmission system for evacuation of power from RE projects in Osmanabad area (1 GW) in Maharashtra through Tariff Based Competitive Bidding (TBCB). After successful completion of TBCB process consortium of IndiGrid 1 Limited (70%) and IndiGrid 2 Limited (30%) had emerged as successful bidder for the said project. Accordingly after receipt of consideration the entire shareholding of Kallam Transmission Limited presently held by RECPDCL has been transferred at par value along with all its assets and liabilities on December 28 2021 to consortium of IndiGrid I Limited (70%) and IndiGrid 2 Limited (30%). Hence with effect from the aforesaid date the above project-specific SPV is not a subsidiary of RECPDCL & REC.

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