REC Limited, through its wholly-owned subsidiary REC Power Development and Consultancy Limited (RECPDCL), has announced the incorporation of a new wholly-owned subsidiary named Musalgaon Power Transmission Limited. This incorporation, effective December 20, 2025, is a step towards establishing a 220/132/33 kV AIS Musalgaon transmission project in Nashik district, Maharashtra. The Government of Maharashtra had allocated this intra-state transmission project on October 3, 2025, appointing RECPDCL as the Bid Process Coordinator (BPC) for selecting a bidder. Musalgaon Power Transmission Limited was incorporated to facilitate this process. Following the selection of a successful bidder through the Tariff Based Competitive Bidding (TBCB) guidelines, the newly incorporated company, along with its assets and liabilities, will be transferred to the selected bidder. Musalgaon Power Transmission Limited has an authorized and paid-up capital of ₹5,00,000. As it is a newly incorporated company, it has not yet commenced business, and its turnover is not applicable. The company is a related party to REC Limited, as it is a wholly-owned subsidiary of RECPDCL. The promoter, promoter group, and group companies do not hold any interest in Musalgaon Power Transmission Limited beyond its shareholding. The incorporation was funded through 100% subscription to equity shares in cash at face value.