Convener News Desk
New Delhi, July 30: REC Limited and Power Finance Corporation (PFC) Limited have signed a common loan agreement with Meja Urja Nigam Private Limited (MUNPL) to finance the 2,400 MW Meja Thermal Power Project (Stage-II) in Uttar Pradesh.
In a statement issued to Kashmir Convener, REC said the two Maharatna public sector undertakings under the Ministry of Power will jointly provide a loan of ₹26,850 crore for the project, with REC acting as the lead financier. The loan will be funded equally by REC and PFC.
The statement said the project involves the establishment of three ultra-supercritical units of 800 MW each, equipped with an Air Cooled Condenser (ACC) system, at Meja tehsil in Prayagraj district. The estimated project cost is ₹38,357.81 crore.
The loan documents were signed at Prayagraj by MUNPL Chief Executive Officer Srinivasa Rao Gaddamanugu, REC Chief General Manager Shambhu Shankar Gupta and PFC General Manager Shelly Gupta in the presence of senior officials from the three organisations.
According to the statement, the project is expected to strengthen Uttar Pradesh’s energy security by ensuring reliable power supply for domestic, agricultural and industrial consumers. It is also expected to improve fuel efficiency through advanced ultra-supercritical technology, reduce emissions compared to conventional thermal plants, generate employment during construction and operation, and support industrial and infrastructure development in the region.
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