Kochi, March 12, 2025 – A Memorandum of Understanding (MoU) valued at ₹18,360 crore has been signed between REC Limited and the Energy Management Centre (EMC), Government of Kerala, for the financing of Pumped Storage Projects (PSP). The agreement was formalized during the Global Green Hydrogen & Renewable Energy Summit 2025 to accelerate renewable infrastructure development over the next five years.
The signing was conducted by Shri Saurabh Rastogi, Executive Director, REC, and Shri Dinesh Kumar, Joint Director, EMC, in the presence of Sh. K R Jyothilal, IAS, Additional Chief Secretary (Power), Government of Kerala and other dignitaries. The event was attended by key officials from the Kerala State Electricity Board (KSEB) and EMC.
Through this initiative, greater financial support will be extended to large-scale storage facilities, ensuring enhanced grid stability. The renewable sector is expected to benefit significantly, with increased participation from corporate entities and infrastructure developers.
Corporate Sector Impact
• Investment Opportunities: New financing channels will be made available for companies involved in energy storage and infrastructure.
• Strategic Growth: Business expansion in sustainable energy solutions will be facilitated by government-backed initiatives.
• Policy Advancements: Favorable regulations and funding mechanisms will encourage corporate participation in Kerala’s clean energy transition.
The Global Green Hydrogen & Renewable Energy Summit 2025, hosted in Kochi, continues to serve as a major platform for industry collaboration, attracting key players in the energy sector.
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