REC Limited, a Maharatna CPSE under the Ministry of Power, has signed an MoU with the Energy Management Centre (EMC), Government of Kerala, to finance Pumped Storage Projects (PSP) worth ₹18,360 crore over the next five years. The agreement was signed at the Global Green Hydrogen & Renewable Energy Summit 2025 in Kochi.
REC is a Maharatna company and a leading NBFC under the Ministry of Power. It finances power and infrastructure projects, including renewable energy, electric vehicles, and metro rail. REC has played a crucial role in flagship schemes like SAUBHAGAYA and DDUGJY, ensuring rural electrification across India.
The MoU was exchanged between Shri Saurabh Rastogi, Executive Director, REC, and Shri Dinesh Kumar, Joint Director, EMC, in the presence of senior officials, including K.R. Jyothilal, IAS, Additional Chief Secretary (Power), Government of Kerala, and M. Udaya Kumar, CPM, REC Kerala.
The summit, organized by the Kerala government on March 12-13, 2025, is supported by the Kerala State Electricity Board (KSEB) and EMC. EMC, an autonomous body under the Department of Power, plays a key role in Kerala’s energy management initiatives.
