In continuation of our earlier letter dated March 31 2023 on above cited subject it is informed that after receipt of consideration comprising of professional fees of Bid Process Coordination interest cost and reimbursement of expenditure incurred on the project by REC Power Development & Consultancy Limited (RECPDCL) wholly owned subsidiary of REC the entire shareholding of KPS1 Transmission Limited comprising of 50 000 equity shares presently held by RECPDCL has been transferred at par value along with all its assets and liabilities on April 20 2023 to M/s Megha Engineering & Infrastructures Limited the successful bidder selected through tariff based competitive bidding process for Transmission scheme for injection beyond 3 GW RE power at Khavda PS1 (KPS1) Hence with effect from the aforesaid date the above project specific SPV is not a subsidiary of RECPDCL & REC.
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