REC inks MoU with Kerala Govt to finance Rs 18,360 crore for Pump Storage Projects
REC and the Kerala government agreed to collaborate and finance Pumped Storage Projects (PSP) in Kerala worth around Rs 18,360 crore.
New Delhi: The Maharatna CPSE, REC Limited has signed a Memorandum of Understanding (MoU) with the Energy Management Centre (EMC), Government of Kerala. The agreement has been signed to collaborate and finance Pumped Storage Projects (PSP) in Kerala. The MoU was signed during the Global Green Hydrogen & Renewable Energy Summit 2025.
Under this agreement, REC intends to finance Rs 18,360 crore in the PSP segment in Kerala over the next five years.
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The MoU was exchanged by Shri Saurabh Rastogi, Executive Director, REC, and Shri Dinesh Kumar, Joint Director, EMC, during the summit. The signing took place in the presence of Sh. K R Jyothilal, IAS, Additional Chief Secretary (Power), Government of Kerala; Shri M. Udaya Kumar, CPM, REC, Kerala, along with other dignitaries from EMC and the Kerala government.
The Government of Kerala is organizing the Global Green Hydrogen & Renewable Energy Summit in Kochi on March 12-13, 2025. The event is supported by the Kerala State Electricity Board (KSEB) and the Energy Management Centre (EMC).
The Energy Management Centre is an autonomous organization under the Department of Power, Government of Kerala.
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