The Rural Electrification Corporation (REC) Limited has signed a Memorandum of Understanding (MoU) with TANGEDCO and TRANTRANSCO seeking financial assistance to implement various power generation, transmission and distribution projects in Tamil Nadu for next five years.
As per the MoU signed, the Tamil Nadu Generation and Distribution Corporation (TANGEDCO) and Tamil Nadu Transmission Corporation (TRANTRANSCO) will provide financial assistance of Rs 60,063 crore and Rs 25,660 crore respectively, Bureaucracy Today has learnt.
The TANGEDCO is an electrical power generation and distribution public sector while TRANTRANSCO is an electric power transmission system operator. Both are owned by the Government of Tamil Nadu.
The MoU signing ceremony was held in Chennai on May 12 in presence of Electricity Minister of Tamil Nadu, Thiru P Thangamani.
During the ceremony, the CMD of REC, PV Ramesh also handed over the Sanction letter for Rupee Term Loan (RTL) of Rs 10,453 crore for the implementation of 2x660 MW Udangudi Super Critical Thermal Power project.