REC Ltd Sells Nawada Durgapur Power Transmission SPV

REC Ltd, through its wholly-owned subsidiary REC Power Development and Consultancy Limited (RECPDCL), has completed the sale and transfer of its project-specific SPV, Nawada Durgapur Power Transmission Limited. The entire shareholding of 50,000 equity shares, along with all assets and liabilities, was transferred to Shivalaya Construction Limited, the successful bidder selected through a tariff-based competitive bidding process. The consideration received amounts to approximately ₹18,44,62,442 (including taxes). This transaction, effective October 16, 2026, means Nawada Durgapur Power Transmission Limited is no longer a subsidiary of RECPDCL or REC Limited. The sale is not considered a slump sale and the consideration was determined as per Ministry of Power guidelines.