REC signs MoUs for Rs.9000 Cr with APGENCO & APTRANSCO


REC signed two MoUs for Rs.9000 crores with APGENCO and APTRANSCO. The MoUs were signed in the presence of Hon’ble Chief Minister of Andhra Pradesh Shri N. Chandra Babu Naidu, by Shri Rajeev Sharma, CMD, REC and Shri K.Vijayanand, MD, APGENCO & CMD, APTRANSCO at New Delhi. Secretary, MNRE, Principal Secretary (Energy) to Government of Andhra Pradesh and other dignitaries of APTRANSCO, APGENCO and REC were also present on the occasion

The MoU with APGENCOis for Rs.3,000 crores for setting up a 500 MW Solar  power generation project in Anantpur  during the 12th Plan Period. The MoU with APTRANSCO is for Rs. 6,000 crores for Transmission & System improvement projects in the Capital region of Andhra Pradesh. The objective of MoUs is enhancing the generation of Green Power and for creation of Transmission network in Andhra Pradesh.

REC, a Government of India Navaratna Enterprise, having an asset base of Rs 183175 crores, provides financial assistance for Rural Electrification / System Improvement / Augmentation of transmission and distribution systems and all types of power generation projects including renewables.  REC during the financial year 2014-15 sanctioned loans amounting to Rs. 61,421 crores and disbursed Rs.46,446 crores in the same period with net profit of  Rs.5,259 crores. REC is also the Nodal agency for implementation of Deendayal Upadhyaya Gram Jyoti Yojana (DDUGJY) and National Electricity Fund (NEF). wishes the very best.