L&T subsidiary buys REC's Kudgi transmission power project in India

Rural Electrification Corporation (REC) has transferred Kudgi Transmission Limited (KTL) to Larsen & Toubro's subsidiary, L&T Infrastructure Development Projects (L&T IDPL) for INR151.9m ($2.28m).

The transfer by REC's wholly-owned subsidiary, REC Transmission Projects follows L&T IDPL selection through "Tariff Based Competitive Bidding Guidelines for Transmission services" issued by the Indian Ministry of Power.

KTL is a 3x800MW coal-based generation project established in November 2012 for development of transmission system required for evacuation and supply of power from Kudgi TPS to the beneficiaries of the generation project.

The beneficiaries include Kudgi TPS-Narendra (New) 400 kV 2 x D/C quad lines, Narendra (New)-Madhugiri 765 kV D/C line and Madhugiri-Bidadi 400 kV D/C (quad) line.

Meanwhile, REC has also has transferred its Vizag transmission project, which seeks to strengthen the transmission system in southern India, to Power Grid Corporation of India for INR154.1m ($2.31m).

REC is a state-owned lender enganged in providing finance and promoting rural electrification projects throughout India.


2013/09/07 08:57:08 Source：Utilities Network

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