REC provides Rs 6,890 cr assistance to Tamil Nadu

State-run Rural Electrification Corp (REC) has given Rs 6,890 crore financial assistance to Tamil Nadu for implementation of power sector related works.
"Loan agreements were signed betweenREC Ltd and TANGEDCO, TANTRANSCO for financial assistance of Rs 6,890 crore on January 28, 2017 in Chennai for implementation of 1x800 MW super critical thermal power plant at North Chennai, renovation and modernisationofTANGEDCO's existing thermal power plants and establishment of new 765 KV, 400 KV sub-stations in and around Chennai," REC said in a statement.
The directors and senior officials of TANGEDCO and TANTRANSCO have stated that the huge amount will ensuretimely implementation of these projects, the statement said.

REC said it will financially support them in the coming years not only in transmission and distribution projects but also in the upcoming Udangudi super critical thermal power project.
Further, it will support in other renewable energy, energy conservation, smart grid and automation power projects in Tamil Nadu.