FCC

REC to provide 210,860 million financial assistances

2023-01-17

State-owned REC Ltd will provide discoms in Madhya Pradesh, MP Power Management Company Ltd, and Rewa Ultra Mega Solar project with financial support totaling 210,860 million. To this end, REC has signed three different agreements with MP Power Management Company Limited (MPPMCL), Madhya Pradesh's discoms, and Rewa Ultra Mega Solar Ltd.

The Ministry of Power announced on Thursday that an MoU had been signed with MPPMCL to provide financial assistance totaling 150,860 million for the upcoming Sarani and Amarkantak thermal power projects as well as other system improvement works, technology upgradation, modernization, and other projects in Madhya Pradesh.

Rewa Ultra Mega Solar Ltd. and another party have also signed a contract under which the latter will contribute 10,000 million to the development of renewable energy projects, including green energy parks and projects, and/or related infrastructure, such as power evacuation.

The statement continued, "In addition, REC has pledged an additional amount of 50,000 million to MP discoms (power distribution companies) under a REC-World Bank programme, REC has pledged an additional 50,000 million to MP discoms (power distribution companies) to MP discoms (power distribution companies) MP discoms (power distribution companies) to support the distribution The Ministry of Power's REC (formerly known as the Rural Electrification Corporation Limited) offers financial support for initiatives in the development, generation, transmission, and distribution of electricity.