"REC Signs MoU Worth Rs 18,360 Crore with Kerala's EMC for Pumped Storage Projects".
MOUs and Agreement
REC Limited (formerly Rural Electrification Corporation Limited), a Maharatna Central Public Sector Enterprise (CPSE) under the Ministry of Power (MoP), has signed a Memorandum of Understanding (MoU) with the Energy Management Centre (EMC), Government of Kerala, for collaboration and financing of Pumped Storage Projects (PSP) in Kerala.
- Under this MoU, REC will finance Rs 18,360 crore for the PSP segment in Kerala over the next 5 years.
- The MoU was signed during the Global Green Hydrogen & Renewable Energy Summit 2025, held in Kochi, Kerala, from 12 to 13 March 2025.
- The summit was organized by the Government of Kerala with support from the Kerala State Electricity Board (KSEB) and EMC.
Main Point :- (i) The MoU was exchanged by Saurabh Rastogi, Executive Director (ED), REC, and Dinesh Kumar, Joint Director (JD), EMC, in the presence of key officials.
(ii) REC Limited, based in New Delhi, was incorporated in 1969 and is registered with the Reserve Bank of India (RBI) as a Non-Banking Finance Company (NBFC), Public Financial Institution (PFI), and Infrastructure Financing Company (IFC).
(iii) EMC, based in Thiruvananthapuram, Kerala, was established in February 1996. EMC is an autonomous organization under the Department of Power, Government of Kerala. The Kerala Government became the first State Government in India to establish an EMC at the State level.
____________________________
