REC Signs INR 18,360 Crore MoU for Pumped Storage Projects in Kerala
Key Ideas
- REC Ltd signed a MoU with the Energy Management Centre, Kerala, to finance INR 18,360 crore for Pumped Storage Projects over five years.
- The agreement was made during the Global Green Hydrogen and Renewable Energy Summit 2025 in Kochi, emphasizing a commitment to green energy.
- REC's financing extends to various sectors in addition to power, such as Electric Vehicles, Green Hydrogen, and Non-Power Infrastructure projects.
- The company's loan book stands at INR 5.65 lakh crore, showcasing a significant investment in the energy and infrastructure sectors.
REC Ltd, a Maharatna CPSE under the Ministry of Power, has signed a Memorandum of Understanding (MoU) with the Energy Management Centre in Kerala to provide financing amounting to INR 18,360 crore for Pumped Storage Projects over the coming five years. This agreement was formalized during the Global Green Hydrogen and Renewable Energy Summit 2025 held in Kochi. The collaboration signifies REC's support for green energy initiatives in the region. The signing event included key figures from REC and the Kerala government, highlighting the commitment to boosting renewable energy infrastructure. REC's financial commitment also encompasses sectors like Electric Vehicles, Green Hydrogen, and various Non-Power Infrastructure projects. The company's substantial loan book, market capitalization, and net worth underline its significant presence in the energy and infrastructure domains, showcasing a strong investment profile in the sector.