Karnataka gets Rs 39 cr from REC to improve power utilities -Governance Now

Karnataka gets Rs 39 cr from REC to improve power utilities

KPCL to avail a debt of Rs 27,121 crore for generation projects and BESCOM to get Rs 12,000 crore for distribution projects in Karnataka

GN Bureau | February 14, 2017

#PSU #power generation #Karnataka #KPCL #REC

Several agreements were signed between rural electrification corporation limited (REC) and Karnataka power corporation limited (KPCL) and Bangalore electricity supply company limited (BESCOM) for extending financial assistance of Rs 39,121 crore to the power utilities in the state for the next five years.

As per the MoU, KPCL can avail a debt of Rs 27,121 crore for generation projects and other loan requirements. Whereas, BESCOM can avail a debt of Rs 12,000 crore for implementation of distribution projects in Karnataka for strengthening, augmenting, upgrading distribution infrastructure, sub-transmission system, new distribution, under-ground cabling works and R&M works among many others.

Apart from financial assistance, power utilities have agreed to avail consultancy and management services from REC’s subsidiaries for their various projects for the next five years.

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