Power Update

REC inks ` 13K Cr MoU with Mahagenco


Rural Electrification Corporation (REC) Limited, a Navratna PSU involved in financing all segments of power sector, has signed a Memorandum of Understanding (MoU) extending a term loan worth `13,000 crore to Mahagenco for generation projects, FGD systems, STP, working capital and special loan requirements.

The MoU was signed on 24th August between Dr. P.V. Ramesh, Chairman and Managing Director, REC and Bipin Shrimali, Chairman and Managing Director, Mahagenco, in the presence of Devendra Fadnavis, Chief Minister of Maharashtra and Chandrashekhar Bawankule, Energy Minister of Maharashtra and senior officials from the Maharashtra government, REC and Mahagenco.

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