REC Power Development and Consultancy (RECPDCL), a wholly-owned subsidiary of REC under the Ministry of Power, has officially handed over the special purpose vehicle (SPV) — Davanagere Power Transmission to Power Grid Corporation of India (PGCIL) on 24 September, 2025.

This SPV was established for the development of an inter-state transmission system (ISTS) project under the tariff-based competitive bidding (TBCB) route. Power Grid Corporation emerged as the transmission service provider (TSP) for the project, which will be implemented on a build, own, operate & transfer (BOOT) basis. The estimated cost of the project stands at Rs 366.26 crore, with a completion timeline of 24 months.

The scheme involves augmentation of transformation capacity at Davanagere Pooling Station, including installation of 1x1500 MVA 765/400 kV ICT and 4x500 MVA 400/220 kV ICTs, along with associated 220 kV line bays. The handover ceremony was attended by officials from RECPDCL, Power Grid, and Central Transmission Utility of India.