REC and DVC Collaborate on 1,320 MW Thermal Power Project for West Bengal
TFP Bureau, New Delhi, August 27, 2023: In a significant stride towards augmenting the power generation capacity in West Bengal, REC Limited, the Maharatna Central Public Sector Enterprise under the Ministry of Power, has joined hands with Damodar Valley Corporation (DVC). The partnership entails REC extending a loan of Rs. 4,527.68 crore to DVC for the establishment of a 1,320 MW thermal power project (2×660 MW) in Raghunathpur, West Bengal.
The collaborative initiative known as the Raghunathpur Thermal Power Station Phase-II project will play a pivotal role in addressing the energy requirements of the region. Boasting a collective capacity of 1,320 MW, this project represents a major milestone in the local energy landscape.
As the project advances, both REC and DVC are resolutely committed to ensuring its seamless execution, adhering to the highest standards of efficiency, innovation, and environmental stewardship. This strategic alliance underscores their shared dedication to fostering sustainable development and fortifying the power sector.
The agreement was formalized on Saturday in the presence of notable personalities, including Shri Ram Naresh Singh, Chairman; Shri Arup Sarkar, Member (Finance); Dr. John Mathai, Member Secretary; Shri M. Raghu Ram, Member (Technical); Shri Joydeep Mukherjee, Executive Director (Finance); and Shri Sumit Kumar Das, Senior General Manager (Finance) from Damodar Valley Corporation, alongside Shri Pankaj Verma, CPM from REC Limited.
REC Limited, a Non-Banking Financial Company (NBFC), specializes in financing and fostering development within the Power Sector across India. It extends financial support to various entities within the power sector value chain, including state electricity boards, state governments, independent power producers, and renewable energy projects. REC’s funding powers every fourth lightbulb in India.
DVC, as a public sector undertaking under the Ministry of Power, plays a pivotal role in power generation and transmission, catering to the energy demands of the eastern region of the country.
