REC to provide Rs 4,527.68 Cr loan for DVC project to set up 1,320 MW project in West Bengal
The agreement was signed in the presence of Shri Ram Naresh Singh, Chairman
REC Limited is an NBFC that provides financial assistance to various entities in the power sector value chain
REC Limited has signed an agreement with Damodar Valley Corporation (DVC) to provide a loan of Rs 4,527.68 crore for the construction of a 1,320 MW project in Raghunathpur, West Bengal.
The project, known as Raghunathpur Phase-II, is a joint effort between REC and DVC and will significantly contribute to the power generation capacity in the region. The project will have a combined capacity of 1,320 MW, marking a significant milestone in the energy landscape of West Bengal.
The agreement was signed in the presence of Shri Ram Naresh Singh, Chairman; Shri Arup Sarkar Member (Finance); Dr. John Mathai, Member-Secretary; Shri M. Raghu Ram, Member (Technical); Shri Joydeep Mukherjee, ED (Finance) & Shri Sumit Kumar Das, Sr. GM (Finance) from Damodar Valley Corporation and Shri Pankaj Verma, CPM from REC Ltd.
REC https://en.wikipedia.org/wiki/REC_Limited Limited is an NBFC that provides financial assistance to various entities in the power sector value chain, while DVC is a public sector undertaking engaged in power generation and transmission in the eastern region of India.