New Delhi, July 30: REC Limited and PFC Limited, Maharatna CPSEs under the Ministry of Power, have signed a Common Loan Agreement with Meja Urja Nigam Private Limited (MUNPL) for a total loan of Rs 26,850 crore to set up the 2,400 MW Meja Thermal Power Project (Stage-II) in Uttar Pradesh.
MUNPL is a 50:50 joint venture between NTPC Limited and Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL). The project comprises three ultra-supercritical units of 800 MW each with an Air Cooled Condenser (ACC) system at Meja Tehsil in Prayagraj district. The estimated project cost is Rs 38,357.81 crore.
REC is the lead financer of the project, while the loan will be funded equally by REC and PFC.
The loan documents were signed at Prayagraj by Srinivasa Rao Gaddamanugu, Chief Executive Officer, MUNPL; Shambhu Shankar Gupta, Chief General Manager, REC Regional Office, Lucknow; and Shelly Gupta, General Manager, PFC. The signing was witnessed by Angshu Barua, Chief Financial Officer, MUNPL; H. K. Das, Executive Director, PFC; and D. B. Londhe, Executive Director, REC.
According to the companies, the proposed project will strengthen Uttar Pradesh’s energy security by ensuring reliable power supply for households, agriculture and industries. The ultra-supercritical technology is expected to improve efficiency and reduce coal consumption and emissions compared to conventional thermal power plants. The project is also expected to generate employment during construction and operation, improve local infrastructure in Meja, and support industrial and urban growth in the state.
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