REC Ltd Subsidiary, Davanagere Power Transmission Limited, Incorporated for Transmission System Strengthening

REC Ltd has incorporated a new wholly owned subsidiary, Davanagere Power Transmission Limited, pursuant to the Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The new subsidiary has been incorporated for Transmission System strengthening at Davanagere for integration of RE Generation. REC Power Development and Consultancy Limited (RECPDCL) has been appointed as Bid Process Coordinator (BPC) for the purpose of selection of Bidder for Establishment of Transmission system strengthening at Davanagere for integration of RE Generation. After selection of the successful bidder in accordance with the Tariff Based Competitive Bidding (TBCB) guidelines, Davanagere Power Transmission Limited would be transferred to the successful bidder along with all assets & liabilities.