Rishikesh, 17 September 2024: In a significant boost to India’s Energy Sector, REC Limited and THDC India Limited (THDCIL) announced a pivotal collaboration through a MOU aimed at advancing the development of Power Projects across the nation. Shri R K Vishnoi, Chairman and Managing Director, THDC India Limited, conveyed his heartfelt wishes on the signing of this groundbreaking Memorandum of Understanding (MoU) with REC Limited.
Shri R K Vishnoi added that this strategic partnership aims to advance the development of THDCIL’s Hydroelectric, Thermal, and other Renewable Power Projects across the country, marking a major milestone in the collective effort to enhance India’s Energy Infrastructure. The MoU sets out a comprehensive framework for REC Limited to provide financial support to THDCIL for diversified Energy Projects. This includes funding for the Creation, Upgradation, Renovation, and Maintenance of Power Generation and Supply Systems.
The scope of the collaboration encompasses development of various Projects of THDCIL, as well as initiatives aimed at improving Energy Conservation and efficiency. Additionally, REC Limited will support projects related to coal mining and fuel supply arrangements, ensuring a robust infrastructure to meet India’s growing energy demands. In total, these projects represent an estimated investment of ₹35,000 crores, reflecting a Substantial commitment to advance the Renewable basket of the nation.
Shri Vivek Kumar Dewangan, (IAS), CMD, REC and Shri Bhupender Gupta, Director (Technical), signed the MOU on the behalf of REC and THDCIL respectively. Shri Bhupender Gupta added that the MOU underlines the collaborative approach of THDCIL and REC in advancing India’s energy Infrastructure and reinforcing the Country’s Renewable Energy capabilities. He extended his gratitude to REC Limited for their partnership and support, underscoring the opportunities that this collaboration will bring to cater the Energy demand and overall Socio-Economic development of India. Under the terms of the MoU, REC Limited will extend financial assistance for THDCIL’s projects.
Sh. Gupta added that THDCIL is advancing a significant portfolio of diversified Energy Projects, underscoring its commitment to providing affordable 24 x7 Power to the Nation. Key projects of THDCIL includes the development of 10,000 MW Ultra Mega Renewable Energy Power Park in Rajasthan (through JV TREDCO), 6790 MW Pumped Storage Projects in Maharashtra, 3500 MW Pumped Storage Plant in Chhattisgarh, 1400 MW Solar Power Parks in Uttar Pradesh, 1,200 MW Kalai-II Hydro Electric Project in Arunachal Pradesh, 130 MW Ground Mounted Solar PV in Karnataka.
The MoU outlines the future prospects of this partnership, including the potential for funding both existing and new projects. It also covers the organization of training programs and the exploration of new domains in renewable energy, reflecting a commitment to continuous improvement and innovation in the sector.
Effective from the date of signing, the MoU is valid for five years, with provisions for extension and amendments as mutually agreed upon by both parties. The agreement emphasizes the importance of maintaining confidentiality and resolving any disputes amicably, ensuring a productive and harmonious collaboration.
Shri Harsh Baweja, Director (Finance), REC, Shri Saurabh Rastogi, ED (REC), Shri Mayank Jain, GM, THDCIL and Shri Harsh Kumar, AGM, THDCIL was also present during the signing ceremony.
