REC Limited Incorporates Musalgaon Power Transmission Ltd for Maharashtra Transmission Project

REC Limited, through its wholly owned subsidiary REC Power Development and Consultancy Limited (RECPDCL), has incorporated Musalgaon Power Transmission Limited as a special purpose vehicle to execute an intra-state transmission project in Nashik district, Maharashtra. The new entity, with authorized and paid-up capital of ₹5 lakh, was formed following the Maharashtra government’s order dated October 3, 2025, for setting up a 220/132/33 kV AIS substation at Musalgaon. RECPDCL has been appointed as the Bid Process Coordinator (BPC) to conduct a Tariff-Based Competitive Bidding (TBCB) for selecting a transmission service provider. As part of the process, the newly incorporated company will be transferred to the successful bidder along with all associated assets and liabilities—consistent with RECPDCL’s role in facilitating transparent and competitive bidding for power transmission projects across India. While the subsidiary is currently non-operational and constitutes a related-party transaction, it underscores REC’s strategic role in strengthening India’s power infrastructure by enabling efficient project structuring and implementation under regulatory guidelines.