REC Inks INR 18,360 Crore MoU with Kerala Government for Pumped Storage Projects
REC Ltd, a Maharatna CPSE under the Ministry of Power, has signed an MoU with the Energy Management Centre, Kerala, to finance INR 18,360 crore for Pumped Storage Projects over the next five years. The MoU was signed during the Global Green Hydrogen and Renewable Energy Summit 2025 in Kochi.
March 15, 2025. By Mrinmoy Dey
Under this agreement, REC intends to finance INR 18,360 crore in the PSP segment in Kerala over the next five years.
The MoU was exchanged by Saurabh Rastogi, Executive Director, REC, and Dinesh Kumar, Joint Director, EMC, during the summit. The signing took place in the presence of K.R. Jyothilal, IAS, Additional Chief Secretary (Power), Government of Kerala; M. Udaya Kumar, CPM, REC, Kerala, along with other dignitaries from EMC and the Kerala government.
REC is financing the entire Power-Infrastructure sector comprising Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage, Pump Storage projects, Green Hydrogen, Green Ammonia projects etc.
More recently, REC has also diversified into the Non-Power Infrastructure sector comprising Roads & Expressways, Metro Rail, Airports, IT Communication, Social and Commercial Infrastructure (Educational Institutions, Hospitals), Ports and Electro-Mechanical (E&M) works in respect of various other sectors like Steel, Refinery, etc.
The loan book of REC stands at INR 5.65 lakh crore, market capitalization at INR 1,31,844 crore and net worth at INR 76,502 crores as on December 31, 2024.
please contact: contact@energetica-india.net.
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