REC signed MoUs with TANGEDCO and TANGEDCO and TANTRANSCO for financial assistance of Rs. 60,063 crore and Rs. 25,660 crore respectively in the august presence of Shri. Thangamani, Hon’ble Minister of Electricity, Govt. of Tamil Nadu and Principal Secretary (Energy), Govt. of Tamil Nadu on 12.05.2017 at Chennai. The financial assistance is towards Implementation of various Generation, Transmission and Distribution projects in the State of Tamil Nadu during the next five years. Dr. P.V. Ramesh, IAS, CMD, REC also handed over the Sanction letter for Rupee Term Loan (RTL) of Rs.10,453 crore for implementation of 2×660 MW Udangudi Super Critical Thermal Power project during the ceremony.
CMD and Directors of TANGEDCO and TANTRANSCO lauded REC for their support in development of power sector in the state and further stated that the huge loan assistance from REC as per the MoU will ensure timely implementation of these projects. CMD REC stated that such huge investment will not only improve the power infrastructure of state power utilities, but also improve their financial as well as operational performance. Officials of REC, TANGEDCO & TANTRANSCO were also present at the occasion.