REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited and a Maharatna central public sector undertaking under the Ministry of Power, handed over the project specific special purpose vehicle Bellary Davanagere Power Transmission Limited to Power Grid Corporation of India Limited on 12 February 2026. The SPV relates to an inter-state transmission system project procured under the tariff-based competitive bidding route and is intended to facilitate grid augmentation in the region. Power Grid Corporation of India Limited (PGCIL) emerged as the successful bidder after a tariff-based competitive bidding process conducted by RECPDCL, which acted as bid process coordinator. The project will be developed on a Build, Own, Operate and Transfer (BOOT) basis and the implementation period is 24 months. The scheme covers augmentation of transformation capacity at Davanagere power station and Bellary power station, and the establishment of a second 400 kilovolt (kV) double circuit line of around 72 km. The development is expected to strengthen interstate transmission corridors and support stable power flow between the two centres. The SPV was formally transferred in a ceremony in which Saurabh Rastogi, chief executive officer of RECPDCL, handed over administrative control to Pankaj Pandey, executive director of PGCIL, in the presence of senior officials from RECPDCL, PGCIL and CTUIL. Project sponsors and officials noted that the transfer follows regulatory and contractual clearances and allows the successful developer to commence detailed engineering and construction within the stipulated timeframe. RECPDCL will continue to support handover processes and transitional obligations as required under the project agreements, while REC Limited will retain oversight as the parent company. The transfer is part of a broader programme of transmission capacity additions being delivered through competitive procurement to reinforce the national grid. Stakeholders indicated that timely completion within the 24 month period will be important to realise expected reliability benefits for distribution utilities and end consumers.