Subsidiaries & JVs
REC Power Development and Consultancy Limited (RECPDCL)
(formerly known as REC Power Distribution Company Limited)
Two wholly owned subsidiaries of REC were amalgamated to create a single entity, to achieve better synergies in operations, greater access to different market segments and to reap the benefits of higher capital base and pooled resources. The amalgamated entity is now known as REC Power Development and Consultancy Limited (formerly REC Power Distribution Company Limited, “RECPDCL”).
RECPDCL is engaged in providing effective and economical services in the following business verticals of power sector, viz
- Distribution infrastructure
- Transmission infrastructure
- ERP and billing software
- Smart metering projects
- Grid/off-grid solar (PV) projects
- Distribution and Transmission infrastructure projects
- Quality assurance
- Demand forecasting and scheduling
- Power generation projects- thermal and renewable
- “Bid Process Coordinator” for Tariff Based Competitive Bidding (TBCB) transmission projects
The company is consistently in profits since inception. Net Worth of the company as on 31-03-2021 is Rs. 297.99 Cr. During the FY 20-21, company achieved a turnover of ₹184.69 crore and earned Gross Profit of ₹ 32.62 crore. The company is regularly paying dividend to its shareholders.
Going forward RECPDCL is looking to get into diversified business opportunities in development of transmission and distribution sector projects and various new high-end technology consultancies. The Company has devised few solutions e.g.
(a) Sarthi 2.0 i.e energy accounting solution which is aimed to do comprehensive energy accounting and auditing by installing Feeder/DT meters and carrying out consumer indexing and network mapping under OPEX mode.
(b) Sarthak i.e Discom's commercial process outsourcing which aims to achieve a turnaround in the way revenue cycle management and customer care activities are being carried out in state utilities.
Furthermore, RECPDCL is developing (a) NFMS (National Feeder Monitoring Scheme) for monitoring Reliability and Quality of Power at National Level with objective of 24x7 Power for all, (b) Unified Billing and other software: which may be utilized by the Govt. Discoms/ Power Departments of the country, keeping in view such as interoperability, data security, and consumer privacy.
Recently, the Government of India has announced an outlay of 3,05,982 crore for a revamped reform scheme for state power distribution companies in India. The scheme will aid DISCOMs for infrastructure creation, including pre-paid smart metering and feeder separation, upgradation of systems tied to financial improvements. This has provided huge opportunity for the company to work as a Project Management Consultant (PMC) and as AMI SP for implementation of prepaid smart metering for consumers in TOTEX mode through PPP.
Amalgamation of REC Transmission Projects Company Limited (RECTPCL) with REC Power Development and Consultancy Limited (formerly REC Power Distribution Company Limited)
Ministry of Power vide its letters dated November 11, 2019 & December 8, 2020 accorded approval for amalgamation of REC Transmission Projects Company Limited with REC Power Development and Consultancy Limited (formerly REC Power Distribution Company Limited). After fulfillment of statutory compliances as required in this regard, Ministry of Corporate Affairs (MCA) vide Order dated February 5, 2021 has approved the amalgamation of RECTPCL (Transferor Company) with RECPDCL (Transferee Company) with appointed date as April 1, 2020. Further, a certified copy of this order has been filed by Transferor and Transferee Company with Registrar of Companies, NCT of Delhi on February 6, 2021. Accordingly, the transferor company has been dissolved and the Scheme of Amalgamation has become effective from February 6, 2021