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.
