News ArticleREC Limited Sets Up Zanskar Renewable Energy Limited to Develop 140 MW Solar and 400 MWh Battery Storage Project in Ladakh
New wholly owned subsidiary incorporated on October 29, 2026, to manage Karsha Village renewable energy project; transfer planned post competitive bidding process
REC Limited announces the incorporation of its wholly owned subsidiary Zanskar Renewable Energy Limited to develop a 140 MWp Solar plus 400 MWh Battery Energy Storage System (BESS) plant at Karsha Village, Zanskar District, UT of Ladakh. This subsidiary, established on October 29, 2026, will be transferred to the successful bidder following tariff-based competitive bidding.
REC Limited
New Ventures
REC Limited has incorporated a wholly owned subsidiary, Zanskar Renewable Energy Limited, to develop a 140 MWp solar power plant combined with a 400 MWh battery energy storage system at Karsha Village in Ladakh. The company was established on October 29, 2026, and will be transferred to the successful bidder after a tariff-based competitive bidding process.
Zanskar Renewable Energy Limited has an authorized and paid-up capital of ₹5,00,000 and has yet to commence business operations as it is newly formed.
The project allocation for the renewable energy installation was made by the Power Development and New & Renewable Energy Department of the UT of Ladakh through a letter dated September 14, 2026.
REC Power Development and Consultancy Limited (RECPDCL), itself a wholly owned subsidiary of REC Limited, acts as the Bid Process Coordinator (BPC) for the project.
After selection of the successful bidder in accordance with the Tariff Based Competitive Bidding (TBCB) guidelines, Zanskar Renewable Energy Limited along with its assets and liabilities will be transferred to the winning party.
The incorporation of Zanskar Renewable Energy Limited constitutes a related party transaction, as it is a wholly owned subsidiary of RECPDCL, which is also a wholly owned subsidiary of REC Limited.
Highlights
- Zanskar Renewable Energy Limited incorporated on October 29, 2026.
- Authorized and paid-up capital of ₹5,00,000 each.
- Project involves development of 140 MWp solar plant plus 400 MWh BESS at Karsha Village, Ladakh.
- RECPDCL appointed as Bid Process Coordinator by Ladakh's Power Development department.
- Company to be transferred to successful bidder post tariff-based competitive bidding.
- Related party transaction as subsidiary of RECPDCL, itself a REC Limited subsidiary.
Key Data Snapshot
What happened
- REC Limited has established a new wholly owned subsidiary, Zanskar Renewable Energy Limited, incorporated on October 29, 2026.
- This subsidiary is created specifically to develop a 140 MWp solar power plant combined with a 400 MWh battery energy storage system at Karsha Village in Ladakh.
Key details
- The project was allocated by the Power Development and New & Renewable Energy Department of UT-Ladakh via Letter dated September 14, 2026.
- REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, acts as Bid Process Coordinator for the project's tariff-based competitive bidding process.
- Zanskar Renewable Energy Limited has authorized and paid-up capital of ₹5,00,000 each, and no business turnover yet as the company is newly incorporated.
- Post the selection of the successful bidder through competitive bidding, the subsidiary will be transferred to that bidder along with all assets and liabilities.
Regulatory and governance context
- The incorporation complies with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, specifically Regulation 30 with Schedule III reporting.
- This is a related party transaction since Zanskar Renewable Energy Limited is wholly owned by RECPDCL, itself a subsidiary of REC Limited.
- No other promoters or promoter group companies have interest in the subsidiary beyond shareholding.
Background and context
- RECPDCL’s role as Bid Process Coordinator involves facilitating the selection of Transmission Service Providers via competitive bidding for projects assigned by Ministry of Power and state/UT governments.
- The development project falls within REC Limited’s activities in the power sector and renewable energy initiative.
Highlights
- Zanskar Renewable Energy Limited incorporated on October 29, 2026.
- Authorized and paid-up capital of ₹5,00,000 each.
- Project involves development of 140 MWp solar plant plus 400 MWh BESS at Karsha Village, Ladakh.
- RECPDCL appointed as Bid Process Coordinator by Ladakh's Power Development department.
- Company to be transferred to successful bidder post tariff-based competitive bidding.
- Related party transaction as subsidiary of RECPDCL, itself a REC Limited subsidiary.
Disclosures
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- Companies Act, 2013 Section 2(87)
Zanskar Renewable Energy Limited is a wholly owned subsidiary of REC Power Development and Consultancy Limited (RECPDCL), which is a wholly owned subsidiary of REC Limited, hence constituting a related party transaction.
No promoter, promoter group, or group companies have any interest in Zanskar Renewable Energy Limited except to the extent of shareholding.
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