REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, a Maharatna CPSU under the Ministry of Power, handed over two project-specific Special Purpose Vehicles (SPVs) to their respective successful bidders on 23^rd September 2026 — Barmer HVDC Power Transmission Limited, an inter-state transmission project SPV, to M/s Power Grid Corporation of India Limited (PGCIL) and Sakoli Power Transmission Limited, an intra-state transmission project SPV of Maharashtra, to M/s Ashoka Buildcon Limited. Both SPVs were awarded through the Tariff-Based Competitive Bidding (TBCB) process conducted by RECPDCL, the Bid Process Coordinator, on a Build, Own, Operate and Transfer (BOOT) basis. The SPVs were handed over by Sh. Rajkumar Sonkar, HoD (CS), RECPDCL, to the respective successful bidder, in the presence of senior officials from RECPDCL, the respective bidder company and Central Transmission Utility of India Limited.

Barmer HVDC Power Transmission Limited — Handed Over to M/s Power Grid Corporation of India Limited

M/s Power Grid Corporation of India Limited emerged as the successful bidder through the TBCB process for development of the inter-state HVDC transmission project “Evacuation of power from Rajasthan REZ Ph-IV (Part-5: 6 GW) [Barmer Complex] Barmer-II: 6 GW (Solar) (LCC Configuration)”, on a BOOT basis. The SPV was handed over by Sh. Rajkumar Sonkar, HoD (CS), RECPDCL, to Mr. Akhilesh Pathak, OSD (Projects), Power Grid Corporation of India Limited, in the presence of Shri Prince Dhawan, IAS, CEO, RECPDCL, Shri Pankaj Pandey, OSD (Operations), PGCIL, and other senior officials from PGCIL, RECPDCL and Central Transmission Utility of India Limited.

The transmission project broadly envisages establishment of 6000 MW, ± 800 kV HVDC terminal stations at Barmer (Barmer-II substation) and South Kalamb, ± 800 kV HVDC Bipole line between Barmer-II & South Kalamb (~973.41 km), and 2 Nos. of Synchronous Condenser (Syncon) units at 400 kV level of Barmer-II PS, along with associated works. The project implementation schedule is 54 months.

Sakoli Power Transmission Limited — Handed Over to M/s Ashoka Buildcon Limited

M/s Ashoka Buildcon Limited emerged as the successful bidder through the TBCB process for development of the intra-state transmission project “Establishment Of 400/220/132 kV AIS Sakoli (Dist. Bhandara)” in Maharashtra, on a BOOT basis. The SPV was handed over by Sh. Rajkumar Sonkar, HoD (CS), RECPDCL, to Mr. Rajendra Burad, COO, Ashoka Buildcon Limited, in the presence of other senior officials from RECPDCL, Ashoka Buildcon Limited and Central Transmission Utility of India Limited.

The transmission project broadly envisages establishment of AIS Sakoli with 2 x 500 MVA, 400/220 kV ICTs & 2 x 315 MVA, 400/132 kV ICTs, 220 kV D/c line from Sakoli to Bhandara, 132 kV D/c line from Sakoli to Deori and Moragaon Arjuni, along with other associated works. The project implementation schedule is 24 months.

The size of pilot issue was ₹500 Crore (base issue of ₹100 Crore with a green shoe option of ₹400 Crore) and bidding was undertaken at EBP platform of National Stock Exchange of India Limited (NSE). Demonstrating deep investor confidence and enthusiasm for cutting-edge market innovations, the issue received an overwhelming market response from investors, clocking a book building of ₹796 Crore (oversubscribed by ~8x). REC has accepted ₹500 Crore at a coupon rate of 7.30% per annum for a tenor of 1 year 9 months.

The success of this pilot issue reflects the forward-looking vision and coordinated commitment of SEBI, the Reserve Bank of India (RBI), and all participating Market Infrastructure Institutions (MIIs)—including NPCI, depositories and stock exchanges. The tokenised mode enabled faster settlement, with pay-in, allotment and listing of the bonds on same day. The bonds are listed on NSE and BSE Limited.

Speaking on the milestone, Shri Rajesh Kumar, Director (Finance), REC said: “We express our deepest appreciation to SEBI for its visionary leadership in strengthening India’s capital markets through progressive regulations, active stakeholder consultation, and technology-driven reforms. SEBI’s continued focus on ease of doing business, improved market efficiency, and faster turnaround of regulatory processes has significantly enhanced the depth and resilience of India’s financial markets.”

This issuance represents a transformative leap forward in India’s capital market, introducing atomic Delivery-versus-Payment (DvP) settlement and shared-ledger transparency.

“The Demat 2.0 initiative and tokenisation of corporate bonds represent a landmark step in the evolution of India’s debt markets. By leveraging digital infrastructure, distributed ledger technology, and CBDC-enabled settlement while preserving existing investor protections and regulatory safeguards, SEBI is laying the foundation for the next generation of capital market infrastructure,” said Shri Rajesh Kumar.

Through Demat 2.0, securities ownership is securely recorded and tracked on a permissioned distributed ledger, eliminating settlement risks and operational friction while maintaining statutory safeguards and institutional compliance.

The award was presented to REC by Shri Manohar Lal Ji, Honorable Union Minister of Power and Housing and Urban Affairs. Shri Shripad Yesso Naik, Minister of State for Power and New and Renewable Energy, Shri Dinesh Sharma, former Deputy Chief Minister of Uttar Pradesh and current Rajya Sabha MP, Shri Suresh Kumar Kashyap, Lok Sabha MP, and Shri Pankaj Agrawal, Secretary, Ministry of Power, were also present on the occasion. Shri Jitendra Shrivastava, IAS, CMD of REC, received the award.

It is a matter of immense pride that REC has earned this distinction among all Central Public Sector Enterprises, subordinate offices, and organizations under the Ministry in the power sector.

This achievement is a testament to REC’s sustained commitment to promoting, propagating, and effectively implementing Hindi as the official language, as well as to the collective efforts of its officers and employees. This prestigious honor recognizes REC’s exemplary work in ensuring effective compliance with the provisions of the Official Language Policy, fostering a work culture that encourages the use of Hindi, and successfully implementing innovative initiatives at the national level.

This award is a matter of pride and inspiration for the entire REC family. This award not only establishes the organization’s excellent work culture at the national level but also underscores REC’s leading role in official language implementation.

The sports events were held to commemorate the birth anniversary of hockey legend Major Dhyan Chand and to promote wellness, fitness, and camaraderie among employees.

The celebrations kicked off on August 27, 2026, with indoor competitions that witnessed intense yet friendly rivalries. The Chess tournament saw tactical battles among 16 participants, while the Table Tennis event featured 12 agile competitors demonstrating sharp precision and technique.

The festivities culminated on August 29, 2026, with an action-packed Cricket match between two teams: Team Urja (Men in Blue) and Team Shakti (Men in Red), comprising a total of 28 players.

Demonstrating exceptional teamwork and all-round performance, Team Shakti clinched victory in a thrilling contest.

Leading from the front, Shri Jitendra Srivastava, Chairman & Managing Director (CMD), REC Limited, actively participated in both the Table Tennis tournament and the Cricket match as a key player for Team Shakti, hitting the final shot of the match.

Speaking on the occasion, Shri Jitendra Srivastava, CMD, REC Limited, said: “Sports instill discipline, strategic thinking, and resilience—qualities that are essential both on the field and in our professional lives. Honoring the legacy of Major Dhyan Chand reminds us of the value of collective effort and dedication. It is heartening to see the REC family come together with such passion, vitality, and true team spirit.”

The grand event was also graced by Shri TSC Bosh, Director (Projects), and Shri Rajesh Kumar, Director (Finance), who cheered for the participants, encouraged the teams, and felicitated the winners.

The celebrations concluded with a prize distribution ceremony, honoring the exceptional talent, enthusiasm, and sporting spirit displayed by all participants.

REC’s Executive Director S. Jayanthi, who led the PMSGY team, urged national vendors to deploy adequate manpower and brand owners to expand their channel partner networks across the state to facilitate faster installations. Discussions also focused on increasing vendor participation, ensuring quality of rooftop solar systems, vendor rating, training and capacity building. REC assured stakeholders of necessary support to address implementation challenges faced by vendors, consumers and DISCOMs and to further accelerate rooftop solar adoption under the scheme.

Common Loan Agreement with Meja Urja Nigam Private Limited (MUNPL), a 50:50 Joint Venture between NTPC Limited & Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL) for total loan amount of Rs. 26,850 Crore for the establishment of 2400 MW Meja TPP Stage-II Ultra-Super Critical units of 800 MW under Stage-Il (3×800 MW) with Air Cooled Condenser (ACC) system at Meja Tehsil, Prayagraj District, Uttar Pradesh with an estimated project completion cost of Rs. 38,357.81 crore.  REC is the lead financer of the project and the loan has been funded in 50:50 by REC and PFC.

The Loan Documents were signed at Prayagraj, Uttar Pradesh by Mr. Srinivasa Rao Gaddamanugu, Chief Executive Officer, MUNPL , Mr. Shambhu Shankar

Gupta, Chief General Manager, REC Regional Office Lucknow and Ms Shelly Gupta, GM, PFC, in the presence of Mr Angshu Barua, Chief Financial Officer, MUNPL; Mr. H. K. Das, Executive Director, PFC  and Mr. D. B. Londhe, Executive Director, REC.

The proposed 3×800 MW Meja Super Thermal Power Project (Stage-II) brings wide-ranging benefits in a single sweep. It will strengthen Uttar Pradesh’s energy

security, ensures reliable supply for homes, farms, and industries and supports the state’s ambitious growth targets. The advanced technology reduces coal consumption and emissions compared to older plants, making it more efficient and environmentally responsible. It will generate thousands of jobs during construction and operation, boost local infrastructure in Prayagraj’s Meja tehsil, and provide stable power for industrial corridors, manufacturing clusters, and urban expansion.