REC signs MoU with UP govt for multiple projects worth INR 988.53 mn

State-owned REC said it signed non-binding MoUs with the Uttar Pradesh (UP) government to extend financial assistance for various projects during UP Global Investors Summit, Delhi that will help UP in employment generation as well as exponential growth in the state. These projects include a power plant at a cost of INR 141 billion, with a capacity addition of nearly 3,000 megawatts (MW), pollution control equipment and allied works; transmission projects worth INR 78 billion for strengthening the transmission system and network in the state, and a distribution project of INR 136 billion for strengthening infrastructure, reducing aggregate technical and commercial losses.

The statement from REC also talked about harnessing renewable energy at a cost of INR 453.50 billion for the addition of 10,000 MW capacity and multiple infrastructure development projects in UP state of INR 200 billion across various sectors. Further, the company also added that during MP Global Investors Summit 2023, the REC had signed a non-binding MoU with MP Power Management Company (MPPMCL) to extend financial assistance of INR 150.86 billion for upcoming Sarand Amarkantak thermal power projects, system improvement works, technology upgradation, renovation and modernisation.