REC Ltd Subsidiary, ERES-XXXIX Power Transmission Limited, Sold to The Tata Power Company Limited

REC Ltd has sold its entire shareholding of 50,000 equity shares in ERES-XXXIX Power Transmission Limited to The Tata Power Company Limited. The sale was made at par value and includes all assets and liabilities of the SPV. The transaction was completed on November 14, 2024, following a tariff-based competitive bidding process. The sale is not in the nature of a slump sale and does not fall under related party transactions. The consideration for the sale is determined in accordance with the Guidelines issued by the Ministry of Power, Government of India.