Rural Electrification Corporation (REC) inked two MoUs with Andhra Pradesh Power Utilities with a mission to enhance generation of Green Power.
To this effect, REC signed two separate agreements with Andhra Pradesh utilities in order to provide Rs 9,000 crore loan for 500-MW solar power plant and transmission network for the state’s capital.
The MoUs were inked in the presence of Chief Minister N. Chandrababu Naidu in New Delhi on 23rd Sept 2015.
The first MoU with APGENCO (Andhra Pradesh Power Generation Corporation Limited) was signed for for Rs. 3,000 crore, necessitating setting up a 500 MW Solar power generation project in Anantpur during the 12th Five Year Plan (2012-17) Period.
Another MoU was signed with APTRANSCO (Andhra Pradesh Transmission Corporation Limited) for Rs. 6,000 crore towards Transmission & System improvement projects in the Capital region of state.
The objective of MoUs is enhancing the generation of Green Power and creation of efficient Transmission Network in Andhra Pradesh.