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REC inks 2 MoUs with AP utilities to provide Rs 9K cr loan

The MoUs to provide debt to the utilities were signed in the presence of Andhra Pradesh Chief Minister N Chandrababu Naidu

September 24, 2015 / 08:20 AM IST
 
 
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State-run Rural Electrification Corp today inked two separate agreements with Andhra Pradesh utilities to provide Rs 9,000 crore loan for 500-MW solar power plant and transmission network for state's capital.

The MoUs to provide debt to the utilities were signed in the presence of Andhra Pradesh Chief Minister N Chandrababu Naidu. The first MoU with APGENCO (Andhra Pradesh Power Generation Corporation Limited) is for Rs 3,000 crore for setting up a 500 MW Solar power generation project in Anantpur during the 12th Five Year Plan (2012-17) Period.

Another MoU is with APTRANSCO (Andhra Pradesh Transmission Corporation Limited) is for Rs 6,000 crore for Transmission & System improvement projects in the Capital region of state. The objective of MoUs is enhancing the generation of Green Power and for creation of Transmission network in Andhra Pradesh.

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