Rural Electrification Corporation (REC) Limited, a Navratna PSU involved in financing all segments of power sector, has signed a Memorandum of Understanding (MoU) extending a term loan worth Rs. 13,000 crore to Mahagenco for generation projects, FGD systems, STP, working capital and special loan requirements.
The MoU was signed on 24th August, 2017 between Dr. P.V. Ramesh, Chairman & Managing Director, REC and Shri Bipin Shrimali, Chairman & Managing Director, Mahagenco, in the presence of Shri Devendra Fadnavis, Chief Minister of Maharashtra and Shri Chandrashekhar Bawankule, Energy Minister of Maharashtra and senior officials from the Maharashtra government, REC and Mahagenco.