Common Loan Agreement with Meja Urja Nigam Private Limited (MUNPL), a 50:50 Joint Venture between NTPC Limited & Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL) for total loan amount of Rs. 26,850 Crore for the establishment of 2400 MW Meja TPP Stage-II Ultra-Super Critical units of 800 MW under Stage-Il (3×800 MW) with Air Cooled Condenser (ACC) system at Meja Tehsil, Prayagraj District, Uttar Pradesh with an estimated project completion cost of Rs. 38,357.81 crore.  REC is the lead financer of the project and the loan has been funded in 50:50 by REC and PFC.

The Loan Documents were signed at Prayagraj, Uttar Pradesh by Mr. Srinivasa Rao Gaddamanugu, Chief Executive Officer, MUNPL , Mr. Shambhu Shankar

Gupta, Chief General Manager, REC Regional Office Lucknow and Ms Shelly Gupta, GM, PFC, in the presence of Mr Angshu Barua, Chief Financial Officer, MUNPL; Mr. H. K. Das, Executive Director, PFC  and Mr. D. B. Londhe, Executive Director, REC.

The proposed 3×800 MW Meja Super Thermal Power Project (Stage-II) brings wide-ranging benefits in a single sweep. It will strengthen Uttar Pradesh’s energy

security, ensures reliable supply for homes, farms, and industries and supports the state’s ambitious growth targets. The advanced technology reduces coal consumption and emissions compared to older plants, making it more efficient and environmentally responsible. It will generate thousands of jobs during construction and operation, boost local infrastructure in Prayagraj’s Meja tehsil, and provide stable power for industrial corridors, manufacturing clusters, and urban expansion.

The SPVs handed over were Bhadla Ramgarh Power Transmission Limited to M/s Power Grid Corporation of India Limited and Shongtong Power Transmission Limited to M/s Terralight Solar Energy Tinwari Private Limited. Both successful bidders were selected through the Tariff-Based Competitive Bidding (TBCB) process conducted by RECPDCL as the Bid Process Coordinator, and the projects will be developed on a Build, Own, Operate and Transfer (BOOT) basis.

Bhadla Ramgarh Power Transmission Limited pertains to the inter-state transmission project “Augmentation at Bhadla-III, Ramgarh PS and Kanpur (PG)”. The SPV was handed over by Shri Ratnesh Kumar, GM (Engg.), RECPDCL, to Mr. Arup Samanta, Company Secretary, Power Grid Corporation of India Limited, in the presence of Shri Rajkumar Sonkar, HoD (CS), RECPDCL, and other senior officials from RECPDCL, Power Grid Corporation of India Limited and Central Transmission Utility of India Limited.

The Bhadla Ramgarh project broadly envisages augmentation of the 400/220 kV Bhadla-III Pooling Station, 765/400 kV Ramgarh Pooling Station and 765/400 kV Kanpur Pooling Station, along with associated works. The project is scheduled for implementation by 20 January 2029 at an estimated cost of Rs. 1,035 crore.

Shongtong Power Transmission Limited pertains to the inter-state transmission project “Transmission system for evacuation of power from Shongtong Karcham HEP (450 MW) and Tidong HEP (150 MW)”. The SPV was handed over by Shri Rajkumar Sonkar, HoD (CS), RECPDCL, to Mr. Puneet Singh Chauhan, Sr. VP, Head Commercial & BD, Terralight Solar Energy Tinwari Private Limited, in the presence of Shri Ratnesh Kumar, GM (Engg.), RECPDCL, and other senior officials from RECPDCL, Terralight Solar Energy Tinwari Private Limited and Central Transmission Utility of India Limited.

The Shongtong project broadly envisages establishment of a 400/220 kV GIS Jhangi Pooling Station in Himachal Pradesh, 400 kV Jhangi PS to Wangtoo double-circuit line of 50 kms, 400 kV Panchkula to Wangtoo line of 175 kms, along with other associated works. The project is scheduled for implementation within 30 months at an estimated cost of Rs. 2,286 crore.

The occasion highlighted PFC’s journey of sustained growth and its continued commitment to nation-building. PFC expresses its sincere appreciation to its employees, stakeholders, partners, and all those who have contributed to making it the country’s largest NBFC group.

New Delhi: REC Limited, a Maharatna CPSE under the Ministry of Power and a leading Infrastructure Financing NBFC, has successfully renewed its ISO 31000:2018 Letter of Recognition for Risk Management Guidelines following a comprehensive reassessment conducted by the British Standards Institution (BSI). The renewed recognition reaffirms REC’s commitment to maintaining globally benchmarked risk management practices and strengthening organizational resilience in an evolving business environment.

The reassessment exercise was undertaken by REC’s Risk Management Division to evaluate and enhance the organization’s Enterprise Risk Management (ERM) framework in line with evolving regulatory requirements, emerging business risks, industry best practices, and changing market dynamics. Following an extensive audit and evaluation process, BSI renewed REC’s Letter of Recognition for compliance with the principles and guidelines prescribed under ISO 31000:2018.

ISO 31000:2018 is an internationally recognized standard that provides principles, framework, and guidelines for effective risk management. It enables organizations to systematically identify, assess, monitor, and mitigate risks, thereby enhancing decision-making, improving governance, strengthening resilience, and supporting long-term sustainable growth.

REC had earlier achieved a significant milestone by becoming the first Indian Public Sector NBFC to receive recognition from BSI for compliance with ISO 31000:2018 Risk Management Guidelines in July 2025, demonstrating its pioneering approach towards institutionalizing a robust and enterprise-wide risk management culture.

The MoUs were signed during the Destination Tripura Business Conclave 2026, reflecting REC’s continued commitment to enabling sustainable development and strengthening power infrastructure in the Northeast.

Under the first MoU, REC Limited has partnered with the Tripura Renewable Energy Development Agency (TREDA), through the Department of Power, Government of Tripura, to provide financial assistance for renewable energy projects worth up to ₹5,000 crore. The agreement was signed by Sh. Subhendu Roy, Chief Program Manager, REC Regional Office, Guwahati, and Sh. D. S. Das, Director General (In-charge), TREDA.

As the nodal agency for renewable energy development in Tripura, TREDA will facilitate the implementation of renewable power projects across the state, while REC Limited will provide financial support to enable investments in the green energy sector. The partnership is expected to accelerate clean energy adoption, unlock Tripura’s renewable energy potential, and contribute significantly to the region’s sustainable development.

Further strengthening its partnership with the state, REC Limited also signed an MoU with the Department of Power, Government of Tripura, through the Tripura State Electricity Corporation Limited (TSECL), to support power sector projects worth ₹10,000 crore.

The signing ceremony was graced by Sh. Ratan Lal Nath, Hon’ble Minister of Power, Government of Tripura. The MoU was signed by Sh. Subhendu Roy, Chief Program Manager, REC Regional Office, Guwahati, and Sh. Biswajit Basu, Managing Director, TSECL.

The ₹10,000 crore partnership aims to facilitate financing for key power sector initiatives in the state, contributing to the expansion and modernization of Tripura’s power infrastructure while ensuring reliable and sustainable electricity access for its citizens.

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