New Delhi, Jun 5 (IANS): REC Power Distribution Company Limited (RECPDCL), a wholly owned subsidiary of REC Limited under Ministry of Power, has handed over two projects specific Special Purpose Vehicles (SPVs) 'Fatehgarh Bhadla Transco Limited' & 'Sikar New Transmission Limited' to Power Grid Corporation of India Limited.

The selection of Power Grid Corporation was carried out through Tariff Based Competitive Bidding (TBCB) for selection of Transmission Developers in line with the Standard Bidding Documents and Guidelines thereof as notified by Ministry of Power, Government of India.

REC Limited is a Navratna NBFC focusing on Power Sector Financing and Development across India. REC provides financial assistance to state electricity boards, state governments, central/state power utilities, independent power producers, rural electric cooperatives and private sector utilities. Its business activities involve financing projects in the complete power sector value chain.