M/s Maharashtra State Electricity Transmission Company Limited emerged as the successful bidder through the Tariff-Based Competitive Bidding (TBCB) process conducted by RECPDCL, the Bid Process Coordinator, for development of Maharashtra’s intra-state transmission project on a Build, Own, Operate and Transfer (BOOT) basis.

The SPV was handed over by Shri Ratnesh Kumar, General Manager (Engg.), RECPDCL, to Ms. Vineeta Shriwani, Company Secretary, and Shri Amit Naik, Chief Engineer (TBCB), Maharashtra State Electricity Transmission Company Limited, in the presence of senior officials from Maharashtra State Electricity Transmission Company Limited, Maharashtra STU, and RECPDCL.

The project broadly envisages establishment of a 400/132 kV substation at Jalna and about 135 km of 132 kV double-circuit transmission lines from Jalna (New) to Jalna MIDC, Jalna (New) to Partur, and Jalna to Ghansawangi & Utwad, along with associated works. The project is scheduled for implementation over 24 months at an estimated cost of Rs. 912 crore.

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M/s Resonia Limited emerged as the successful bidder through Tariff-Based Competitive Bidding (TBCB) process conducted by RECPDCL, the Bid Process Coordinator, for development of the transmission project on Build, Own, Operate & Transfer (BOOT) basis.

The SPV was handed over by Smt. Monisha Barua, GM & HoD, RECPDCL to Sh. Tushar Chhabra, Head (Business Acquisition), Resonia Limited in the presence of Managing Director, KPTCL, Senior Officials of RECPDCL and Officials of Karnataka Power Transmission Corporation Limited. The implementation period of the project is 24 months.

The scheme broadly covers establishment of 400/220/33 kV GIS sub-station at Hampapura, 400 kV Double Circuit line of around 299 km from Jagalur to Kadakola, 220 kV Double Circuit line of around 125 km from Hampapura to Nagamangala, Maddur, Tubinakere & Huygonahalli and LILO of 400kV DC Quad moose line from Jagalur-Kadakola to proposed 765/400kV CN’Halli Station, along with other associated works.

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To further spread the message of cleanliness and civic responsibility, POWERGRID organized a *Nukkad Natak* (street play) to engage the public and create awareness about sanitation and environmental stewardship. The observance reflects the organization’s broader commitment to sustainable development and community participation. As of 30 May 2026, POWERGRID operates 291 substations, over 185,102 circuit kilometres of transmission lines, and 628,516 MVA of transformation capacity. Leveraging advanced technologies, automation, and digital solutions, the company continues to maintain an average transmission system availability of more than 99.78%, underscoring its leadership in India’s power transmission sector.

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The acquisition follows in-principle approval from the Cabinet Committee on Economic Affairs (CCEA). After the transaction, PFC and REC operate as holding and subsidiary companies, respectively. REC is a ‘Maharatna’ company under the administrative control of the Ministry of Power, Government of India, and is registered with RBI as a Non-Banking Finance Company (NBFC), Public Financial Institution (PFI) and Infrastructure Financing Company (IFC).

In the filing, PFC also said its board noted the Union Budget 2026–27 announcement on restructuring public sector non-banking financial companies (NBFCs). The Budget, presented on February 1, outlined the government’s approach to sector consolidation. “The vision for NBFCs for Viksit Bharat has been outlined with clear targets for credit disbursement and technology adoption. In order to achieve scale and improve efficiency in the Public Sector NBFCs, as a first step, it is proposed to restructure the Power Finance Corporation and Rural Electrification Corporation,” Union Finance Minister Nirmala Sitharaman had said during her budget speech.

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REC Limited, a Maharatna Central Public Sector Enterprise under the administrative control of Ministry of Power and a leading NBFC, has achieved an ‘Excellent’ MoU Rating for the financial year 2024–25, signed with the Holding company (i.e. Power Finance Corporation Limited). This rating is awarded by Department of Public Enterprises (“DPE”), Ministry of Finance, as per prescribed guidelines in this regard. This feat marks REC’s third consecutive year of achieving the ‘Excellent’ rating, underscoring its sustained operational and financial leadership.

The MoU framework is designed by Government of India to evaluate the performance of CPSEs s to assess their efficacy towards fulfilment of core objectives for which these have been constituted & aims to shift focus from effort-based assessments to actual economic performance, aligning with government priorities and shareholder interests. These parameters are carefully benchmarked against past performance, future projections, sectoral standards, and the vision of the administrative ministry i.e Ministry of Power.

The assessment highlights REC Limited’s robust financial health and superior asset quality. The evaluation was driven by several key operational pillars, including sustained financial performance, high operational efficiency, strong market competitiveness and ethical corporate conduct.

Further, DPE carries out annual exercise of Public Enterprise Survey wherein a summary of the financial performance of Central Public Sector Enterprises is captured. For FY 2024-25 report has been published by DPE and REC has achieved commendable position across various financial parameters as depicted, which reinstate our commitment for operational and financial performance.

With this validation of consistent performance, REC Limited continues to consolidate its position as a premier financier in the power sector, playing a pivotal role in strengthening India’s power infrastructure and supporting sustainable economic growth.

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The award was received on behalf of REC Limited by Shri Awanish Kumar Bharati, General Manager (Finance).

This recognition marks REC’s third ESG-related accolade in 2025, underscoring the organisation’s sustained commitment to environmental stewardship, responsible governance, and long-term sustainable growth. The award acknowledges REC’s strategic initiatives and measurable progress in aligning its operations and financing portfolio with India’s net-zero and climate transition goals.

REC Limited has emerged as a key enabler of India’s clean energy ambitions by proactively supporting projects across renewable energy, green infrastructure, and sustainable power systems. Through a strong ESG framework and responsible financing practices, REC continues to go beyond its role as a lender—positioning itself as a catalyst for transformative change in the power and infrastructure sector.

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Apraava Energy team receives national recognition from the Ministry of Power for its AI-ML solution at the National Conference on the Use of AI and ML in the Power Distribution Sector, presented by Hon’ble Union Minister Shri Manohar Lal Khattar.

Mumbai, December 15, 2025: Apraava Energy, India’s leading integrated energy solutions provider, has received national recognition for its pioneering Artificial Intelligence (AI) and Machine Learning (ML) solution aimed at building data-driven, consumer-centric, and future-ready energy solutions for India. The recognition was conferred at the Ministry of Power’s ‘National Conference on the Use of AI and ML in the Power Distribution Sector’ under the Revamped Distribution Sector Scheme (RDSS). The two-day conference demonstrated cutting-edge use cases to drive innovation, improve operational efficiencies, and enhance consumer satisfaction across DISCOMs in India. The runner-up award was presented to the Apraava Energy team by the Hon’ble Union Minister for Power and Housing and Urban Affairs, Shri Manohar Lal Khattar.

Nearly 200 solutions were presented by the DISCOMs, AMISPs (Advanced Metering Infrastructure Service Providers), Technology Solution Providers (TSPs) and Home Automation Solution Providers (HASPs). Under the AMISP category, Apraava Energy showcased its solution, Discom GPT (Grid.), developed in partnership with WorkOnGrid. The next-generation solution demonstrated how behavioural demand response and AI-based operational automation can meaningfully enhance consumer experience while improving power grid efficiency. By integrating generative AI, advanced machine learning and a robust data architecture, Grid. unlocks new levels of value, efficiency and reliability in the power distribution sector, setting the course for smarter decisions, agile responses and transformative change across India’s evolving digital energy landscape.

Rajiv Ranjan Mishra, Managing Director, Apraava Energy, said, “Grid. represents Apraava’s effort to reimagine the future of power distribution for India. It is not merely a technology upgrade but a bold step towards embedding AI and machine learning deeply into power utility operations. Through this initiative, our mission is to improve grid reliability, operational efficiency, and customer satisfaction. We are delighted by the recognition and appreciation received from the Ministry of Power for our solution. Apraava remains committed to delivering reliable and affordable energy solutions to the nation, with a focus on innovation and sustainability.”

Through Grid., Apraava demonstrated how utilities can:

• Segment consumers to enable targeted interventions and effective demand-side management
• Predict transformer faults using anomaly detection, enabling proactive maintenance
• Forecast demand more accurately through deep learning models to support improved load planning
• Automate operational workflows, delivering instant insights and decision-making support

Apraava offers a comprehensive, end-to-end AMI solution and is well placed to accelerate the smart metering adoption in the country under the RDSS. Its AMI footprint spans across several states with a target of installing around 7.8 million smart meters.

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