REC signs MoU with Karnataka Power
1 Feb 2013 5:28 AM IST
An MoU has been signed between Rural Electrification Corporation Ltd (REC), a Union govt Enterprise, and Karnataka Power Corporation Ltd (KPCL) for providing Rs 25,560 crore financial assistance for six power generation projects to be taken up during the 12th Plan period. With this capacity addition, Karnataka will receive an additional generation of 49,500 mu per year. The total cost of these projects of 6,654 mw is Rs 31,950 crore and KPCL will avail the entire debt component of Rs25,560 crore from REC.
The MoU has been signed by REC Chairman and Managing Director (Rajeev Sharma and KPCL Managing Director M R Kamble in the presence of REC's director (finance) and the directors of KPCL.
Rural Electrification Corporation Ltd, a Navaratna PSU, is providing financial assistance for rural electrification/ system improvement/ augmentation and all types of power generation, transmission and distribution projects which inter-alia includes term loan, debt refinancing, etc. REC is also the nodal agency of the Union government for the Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY) and National Electricity Fund (NEF) projects.
Karnataka Power Corporation Ltd is engaged in power generation in Karanataka through planned development, operation and maintenance of power stations to effectively promote socio-economic development of the state.
The MoU has been signed by REC Chairman and Managing Director (Rajeev Sharma and KPCL Managing Director M R Kamble in the presence of REC's director (finance) and the directors of KPCL.
Rural Electrification Corporation Ltd, a Navaratna PSU, is providing financial assistance for rural electrification/ system improvement/ augmentation and all types of power generation, transmission and distribution projects which inter-alia includes term loan, debt refinancing, etc. REC is also the nodal agency of the Union government for the Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY) and National Electricity Fund (NEF) projects.
Karnataka Power Corporation Ltd is engaged in power generation in Karanataka through planned development, operation and maintenance of power stations to effectively promote socio-economic development of the state.
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