REC Limited has incorporated three wholly owned subsidiaries through REC Power Development and Consultancy Limited (RECPDCL) to support the development of transmission infrastructure in Rajasthan and Uttar Pradesh. The entities were incorporated on October 5, 2026, to facilitate renewable energy evacuation and strengthen the electricity transmission network.
The newly formed companies are Bikaner V Part A Power Transmission Limited, Bikaner V Part B Power Transmission Limited and Mirzapur Power Transmission Limited. All three will operate as special purpose vehicles (SPVs) for their respective transmission projects and are indirect subsidiaries of REC Limited.
Each subsidiary has an authorised share capital of ₹5 lakh and a paid-up capital of ₹5 lakh. RECPDCL holds the entire equity shareholding in each company, acquired through cash consideration at face value. As the entities have only recently been incorporated, they have not commenced business operations, and their turnover is not applicable at this stage.
Two SPVs to Support 6 GW Bikaner Renewable Energy Zone
The incorporation of Bikaner V Part A Power Transmission Limited and Bikaner V Part B Power Transmission Limited follows a Ministry of Power notification issued on June 19, 2026. Under the notification, RECPDCL was allocated an inter-state transmission project as the designated Bid Process Coordinator for renewable energy evacuation under Rajasthan Renewable Energy Zone (REZ) Phase-IV, Part-6.
The transmission scheme covers the 6 GW Bikaner Complex and has been divided into Part A and Part B for implementation through the two newly incorporated SPVs. The infrastructure is intended to facilitate the evacuation of renewable power generated in Rajasthan and accommodate the state’s expanding renewable energy capacity.
Mirzapur SPV to Facilitate 765 kV and 400 kV Transmission Lines
Mirzapur Power Transmission Limited was incorporated following a project allocation by Uttar Pradesh Power Transmission Corporation Limited through a letter dated August 10, 2026. The project involves the development of 765 kV and 400 kV transmission lines associated with the 765/400 kV Mirzapur Pooling Substation.
RECPDCL will coordinate the bidding process for the project. Under the Tariff Based Competitive Bidding (TBCB) framework, eligible transmission developers will be selected through a competitive process. Following the selection of successful bidders, the respective SPVs, along with their assets and liabilities, will be transferred to the winning developers for project execution.
REC Discloses Subsidiary Details to Stock Exchanges
REC disclosed the incorporations to the National Stock Exchange of India and BSE in accordance with applicable Securities and Exchange Board of India (SEBI) disclosure requirements.
The company stated that the three entities qualify as related parties due to RECPDCL’s complete ownership. It also clarified that the promoter group has no financial or commercial interest in the subsidiaries beyond its equity shareholding and that the transactions were conducted at arm’s length.
The new subsidiaries are intended to support the development of transmission infrastructure needed to integrate renewable energy into India’s electricity grid, particularly in regions with significant renewable power generation potential.
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