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REC: Sale And Transfer Of MP Power Transmission Package-II Limited Wholly Owned Subsidiary Of RECPDCL And Also Of REC.

This is to inform that MP Power Transmission Package-II Limited a special purpose vehicle (SPV) and wholly owned subsidiary of REC Power Development and Consultancy Limited (RECPDCL) and REC was incorporated for development of intra-state transmission work (Package - II) in Madhya Pradesh through Tariff Based Competitive Bidding (TBCB).

After successful completion of TBCB process Adani Transmission Limited emerged as successful bidder for the said project. Accordingly after receipt of consideration comprising of professional fee for bid process coordination and reimbursement of expenditure incurred on the project by RECPDCL interest cost etc. the entire shareholding of MP Power Transmission Package-II Limited comprising of 50 000
equity shares presently held by RECPDCL has been transferred at par value along with all its assets and liabilities on 01.11.2021 to Adani Transmission Limited.

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