India : REC inks Rs 13,000 crore pact with Maharashtra power generation firm

The MoU has been signed for power generation projects, Flue-Gas Desulfurization (FGD), working capital and special loan requirements.

New Delhi: State-owned power sector financier Rural Electrification Corporation (REC) has signed a Memorandum of Understanding (MoU) extending a term loan worth Rs 13,000 crore to Maharashtra State Power Generation Company (MAHAGENCO), REC said on Monday.

The MoU has been signed for power generation projects, Flue-Gas Desulfurization (FGD), working capital and special loan requirements. 

The MoU was signed between REC Chairman & Managing Director PV Ramesh and Bipin Shrimali, Chairman & Managing Director, Mahagenco, in the presence of Maharashtra Chief Minister Devendra Fadnavis and energy minister Chandrashekhar Bawankule apart from senior officials from the state government, REC and Mahagenco.

Mahagenco claims it has the highest overall generation capacity and the highest thermal power installed capacity among all the state power generation utilities in India. The state discom has a generation capacity of 13,817 MW including 10,380 MW thermal, 2,585 MW hydel, 672 MW gas and 180 MW solar capacity.

 

Source : http://energy.economictimes.indiatimes.com/news/power/rec-inks-13000-crore-pact-with-maharashtra-power-generation-firm/60258394

SMART GRID Bulletin August 2017


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