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REC to disburse financial assistance to renewables-focused projects and DISCOMS in Madhya Pradesh

Friday, 13 Jan 2023

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REC has inked three separate MOUs with MP Power Management Company (MPPMCL), Rewa Ultra Mega Solar (RUMSL) and DISCOMS in Madhya Pradesh respectively.

An MoU has been signed with MPPMCL to extend financial assistance of Rs 15,086 crore for upcoming Sarani and Amarkantak thermal power projects. This includes system improvement works, technology upgradation and modernization among other projects in Madhya Pradesh.

The MoU signed with RUMSL will provision a Rs 1,000-crore fund to develop renewable energy projects which includes green energy parks or projects, and/or associated infrastructure including power evacuation.

Additionally, under the obligations of REC-World Bank programme, REC has committed Rs 5,000 crore to power distribution companies in the state towards implementing distribution reforms.

As per the Ministry of Power, REC will extend an overall financial facility of Rs 21,086 crore.