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REC inks two MoUs with Andhra Pradesh utilities to provide Rs 9,000 crore loan

24 Sep 2015 Evaluate

Rural Electrification Corporation (REC), a public sector company, has signed two separate MoUs (Memorandum of Understanding) with Andhra Pradesh power utilities to extend a fresh loan of Rs 9,000 crore. The objective of MoUs is enhancing the generation of Green Power and for creation of Transmission network in Andhra Pradesh. The company has signed first agreement with Andhra Pradesh Power Generation Corporation (APGENCO) for Rs 3,000 crore for setting up a 500 MW Solar power generation project in Anantpur, while second agreement was signed with Andhra Pradesh Transmission Corporation (APTRANSCO) for Rs 6,000 crore for Transmission & System improvement projects in the Capital region of state. 

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.

REC Share Price

359.35 -0.35 (-0.10%)
08-May-2026 16:59 View Price Chart
Peers
Company Name CMP
Power Finance Corp 461.00
REC 359.35
Indian Railway Fin. 106.05
NHIT 160.00
Satin Creditcare 212.55
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