REC inks pact with HUDCO

New Delhi: Rural Electrification Corporation (REC) has inked a pact with HUDCO for consortium financing in power-related projects. The REC Chairman and Managing Director, Mr A.K. Lakhina, and the HUDCO's Chairman and Managing Director, Dr H.S. Anand, signed the MoU on June 5, a REC release said.

Under the pact, REC and HUDCO would provide a single window to power utilities for consortium lending for power related projects, housing projects related to power sector development and co-financing other infrastructure projects related to the sector. 'In order to meet the challenges and competition in financing power projects and related infrastructure developments, REC has come forward to finance and provide assistance for those activities having a forward and backward linkage with power projects,' the statement said