REC inks MoU with NTPC Tamil Nadu Energy

Rural Electrification Corporation Ltd (REC) has signed a memorandum of understanding (MoU) with NTPC Tamil Nadu Energy Company Ltd (NTECL), a joint venture company set up by NTPC and the Tamil Nadu Electricity Board (TNEB), to fund a power project in North Chennai. Pre-commissioning is expected to start in March-April 2011 and both the units are likely to go onstream by December 2011. NTECL is building a 1,000 MW (2X500 MW) greenfield power project at Vallur in Chennai. The phase one of the project entails an investment of Rs 5,423 crore, of which, 30 per cent is being met by equity and balance through debt.ded. Contact: Rural Electrification Corporation Ltd. Tel: 011-2436 5161. Fax: 011-2436 0644.Website: www.recindia.nic.in