India Business Journal - REC signs Rs 18,360-cr MoU with Kerala govt for pumped-storage projects

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REC signs Rs 18,360-cr MoU with Kerala govt for pumped-storage projects

IBJ Bureau
Mar 16, 2025

REC, a Maharatna CPSE under the Ministry of Power and leading NBFC, has signed an MoU with the Energy Management Centre (EMC), Government of Kerala, for collaboration and financing of pumped-storage projects in Kerala. The MoU was signed during the Global Green Hydrogen & Renewable Energy Summit 2025.

Under this agreement, REC intends to finance Rs 18,360 crore in the PSP segment in Kerala over the next five years.

The MoU was exchanged by Saurabh Rastogi, Executive Director, REC, and Dinesh Kumar, Joint Director, EMC, during the summit. The signing took place in the presence of K R Jyothilal, Additional Chief Secretary (Power), Government of Kerala; M. Udaya Kumar, CPM, REC, Kerala, along with other dignitaries from EMC and the Kerala government.

The government of Kerala had organised the Global Green Hydrogen & Renewable Energy Summit in Kochi on March 12 and 13, 2025. The event was supported by the Kerala State Electricity Board (KSEB) and the Energy Management Centre.

The Energy Management Centre is an autonomous organisation under the Department of Power, Government of Kerala.