REC: Intimation As Per Regulation 30 Of SEBI (LODR) Regulations, 2015.

In compliance with Regulation 30 of the SEBI (LODR) Regulations, 2015, this is to inform that the Board of Directors of REC Limited in its 450th meeting held on December 5, 2018, inter-alia approved the proposals for :-

1. Incorporation of Joint Venture Company between REC Transmission Projects Company Limited (RECTPCL) and Maharashtra State Electricity Transmission Company Limited (MSETCL) for exploration of new business opportunities in Power Sector in India and abroad;

2. Sale and transfer of Jawaharpur Firozabad Transmission Limited, a wholly-owned subsidiary of RECTPCL and also of REC (in terms of Section 2(87) of the Companies Act, 2013), to M/s Power Grid Corporation of India Limited, which has emerged as the Successful Bidder (L1), through Tariff Based Competitive Bidding Process, for Evacuation of Power from 2 x 660 MW Jawaharpur Thermal Power Project and construction of 400 kV substation at Firozabad along with associated Transmission Lines.