REC Sells Two SPVs for ₹20.4 Cr

REC Limited, through its wholly-owned subsidiary RECPDCL, has divested its entire shareholding in two project-specific SPVs: Bhadla Ramgarh Power Transmission Limited and Shongtong Power Transmission Limited. The transfer, completed on July 29, 2026, involved the sale of 50,000 equity shares in each subsidiary along with all their assets and liabilities to the successful bidders selected through tariff-based competitive bidding. The total consideration for the sale amounts to ₹20,40,66,599. The buyers, Power Grid Corporation of India Limited and Terralight Solar Energy Tinwari Private Limited, are not part of REC's promoter group. These transactions are not considered related party transactions and are not in the nature of a slump sale.