REC Power Development and Consultancy Limited (RECPDCL), a subsidiary of REC Limited under the Ministry of Power, has transferred the Special Purpose Vehicle (SPV) for the Khavda V-A Power Transmission Project to Power Grid Corporation of India Limited (PGCIL). The handover took place on November 19, 2024, in Gurugram. The project, to be implemented on a Build, Own, Operate, and Transfer (BOOT) basis, is scheduled for completion within 54 months.
This is the first High Voltage Direct Current (HVDC) transmission project awarded through the Tariff-Based Competitive Bidding (TBCB) route. The project involves establishing two HVDC terminal stations with a combined capacity of 6,000 MW at KPS2 and Nagpur, connected via a +800 kV HVDC Bipole line spanning 1,200 km. Additional infrastructure includes six 1,500 MVA, 765/400 kV Interconnecting Transformers (ICTs) at Nagpur and other associated works.
In October 2024, PGCIL won RECPDCL’s two transmission tenders via tariff-based competitive bidding to evacuate 12 GW of renewable energy from Rajasthan’s Bikaner complex under Phase IV, involving 6 GW projects each with new substations and transmission lines across Rajasthan, Haryana, and Punjab.
