In a bid to provide a funding of Rs 24,000 crore for the latter’s power projects, Rural Electrification Corporation (REC) has entered into Memorandum of Understanding (MoU) with the Telangana State Generation Corporation (Genco). These projects include 800 Mw at KTPS, 1,080 Mw at Bhadradri in Manugur of Khammam district and 4,400 Mw at Damaracherla in Nalgonda district, totaling 6,280 Mw.
In addition to the Rs 24, 000 crore of funding from REC, Power Finance Corporation (PFC) had earlier agreed to provide funding Rs 15, 000 crore for the same projects, and TS Genco will fund Rs 3,000 crore totaling Rs 42, 000 crore.
REC is engaged in providing financial assistance to state electricity boards, state government departments and rural electric co-operatives for rural electrification projects as are sponsored by them.
