Rural Electrification Corporation Limited has signed a MoU with the Energy Management Centre (EMC), Government of Kerala, to finance pumped storage projects (PSP) in the state over the next five years. The agreement has an estimated cost of Rs 183.6 billion.
The PSPs are expected to improve grid stability and support the integration of renewable energy sources. Additionally, the investment aligns with Kerala’s long-term energy strategy, which focuses on sustainable and efficient power management. The EMC, an autonomous body under the state’s Department of Power, will oversee the planning and implementation of these projects in collaboration with the Kerala State Electricity Board.
In February 2025, REC Limited signed a Rs 21.47 billion term loan agreement with Chenab Valley Power Project Limited for the 1,000 MW Pakal Dul Hydro Electric Project, which is being developed on the Marusadar River in Jammu & Kashmir at an estimated cost of Rs 126.69 billion.
