REC transfers Kudgi transmission power project to L&T's arm

Rural Electrification Corporation (REC) today said that it has transferred its Kudgi transmission power project to Larsen & Toubro's arm, L&T Infrastructure Development Projects for Rs 15 crore.

REC, through its subsidiary REC Transmission Projects, set up a special purpose vehicle for the transmission project that would evacuate power from NTPC's 2,400 mw. L&T had emerged the best bidder to develop the transmission project in the competitive bids invited by REC, the nodal agency for the project.

On Tuesday, REC announced that its has transferred its Vizag transmission project to Power Grid Corporation of India for a consideration on Rs 15.41 crore. The project is being developed to strengthen the transmission system in southern India by connecting it to eastern India.

REC is a state-owned lender that finance and promotes rural electrification projects across India.