REC Sells Vizag Power Transmission SPV for ₹15,65,97,011

REC Power Development and Consultancy Limited (RECPDCL), a wholly-owned subsidiary of REC Limited, has completed the sale and transfer of its entire shareholding in Vizag Power Transmission Limited. The transaction, finalized on August 14, 2026, involved the transfer of 50,000 equity shares along with all assets and liabilities to Adani Energy Solutions Limited, the successful bidder. The consideration received amounts to ₹15,65,97,011, inclusive of taxes, professional fees, and expense reimbursements. This divestment means Vizag Power Transmission Limited is no longer a subsidiary of RECPDCL or REC Limited. The transaction was conducted through a tariff-based competitive bidding process and is not considered a related party transaction or a slump sale.