In continuation of our earlier letter dated October 27, 2022 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 Gadag II-A 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 November 18, 2022 to M/s ReNew Transmission Ventures Private Limited, the successful bidder selected through tariff based competitive bidding process to establish Transmission System for "Transmission Scheme for Solar Energy Zone in Gadag (1500 MW), Karnataka: Part A Phase-II" Hence, with effect from the aforesaid date, the above project specific SPV is not a subsidiary of RECPDCL & REC.