REC Unit Sells Talegaon Power Transmission SPV To Adani Energy

RECLtd. on Friday said its subsidiary, REC Power Development and Consultancy Ltd., has sold its special purpose vehicle WRNES Talegaon Power Transmission Ltd. to Adani Energy Solutions Ltd. The transfer was done through a tariff-based competitive bidding process, REC said in an exchange filing.

The entire shareholding of WRNES Talegaon Power Transmission was transferred at par value along with all assets and liabilities on Friday. REC Power Development and Consultancy received professional fees of ₹145.5 million and reimbursement of expenses, the company added.