State-owned REC Ltd will extend financial assistance worth Rs 21,086 crore to discoms in Madhya Pradesh, MP Power Management Company Ltd & Rewa Ultra Mega Solar project.
REC has inked three separate pacts with MP Power Management Company Limited (MPPMCL), discoms in Madhya Pradesh and Rewa Ultra Mega Solar Ltd to this effect.
An MoU has been signed with MPPMCL to extend financial assistance of Rs 15,086 crore for upcoming Sarani and Amarkantak thermal power projects besides other system improvement works, technology upgradation, modernization among other projects in Madhya Pradesh, the Ministry of Power said in a statement on Thursday.
Another pact has been inked with Rewa Ultra Mega Solar Ltd wherein the company will provide Rs 1,000-crore financial support to develop renewable energy projects covering green energy parks/projects, and/or associated infrastructure including power evacuation.
"Additionally, as a part of a REC-World Bank programme, REC has committed an amount of Rs 5,000 crore to MP discoms (power distribution companies) to further strengthen the distribution reforms," it said.
Under the Ministry of Power, REC (formerly known as Rural Electrification Corporation Limited), provides financial assistance to power sector projects across all segments -- development, generation, transmission or distribution.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve hit your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Quarterly Starter
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app