REC inks MoU with German lending agency
German lending agency KfW will provide an assistance of 70 million Euro (Rs 410 crore) to state-run Rural Electrification Corporation to boost its energy efficiency programme.
By PTI |
NEW DELHI: German lending agency KfW will provide an assistance of 70 million Euro (Rs 410 crore) to state-run Rural Electrification Corporation to boost its energy efficiency programme.
REC Chairman Anil K Lakhina and KfW Director Christian Haas signed an MoU to this affect here today in the presence of Power Minister Sushilkumar Shinde and German Ambassador Bernd Mutzelburg.
The assistance is for conversion of Low Voltage Distribution System to High Voltage Distribution System, an official release said.
Initially, the assistance is being provided for Kadappa and Chittoor districts in Andhra Pradesh and would be expanded to other states later.
The programme aims at reduction in Transmission and Distribution losses and providing reliable and quality power supply to agricultural consumers. The estimated saving in losses would be about 80 million units with an overall annual financial benefit of Rs 115 crore, the release said.
The HDVS project would also help in reducing greenhouse gas emissions, providing an opportunity to project promoters to reap the benefits of additional revenues through sale of Carbon Emission Reductions (CERs) under the Clean Development Mechanism of Kyoto Protocol.
KfW has also agreed to provide assistance for various capacity building measures including CDM, it said.
REC Chairman Anil K Lakhina and KfW Director Christian Haas signed an MoU to this affect here today in the presence of Power Minister Sushilkumar Shinde and German Ambassador Bernd Mutzelburg.
The assistance is for conversion of Low Voltage Distribution System to High Voltage Distribution System, an official release said.
Initially, the assistance is being provided for Kadappa and Chittoor districts in Andhra Pradesh and would be expanded to other states later.
The programme aims at reduction in Transmission and Distribution losses and providing reliable and quality power supply to agricultural consumers. The estimated saving in losses would be about 80 million units with an overall annual financial benefit of Rs 115 crore, the release said.
The HDVS project would also help in reducing greenhouse gas emissions, providing an opportunity to project promoters to reap the benefits of additional revenues through sale of Carbon Emission Reductions (CERs) under the Clean Development Mechanism of Kyoto Protocol.
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KfW has also agreed to provide assistance for various capacity building measures including CDM, it said.
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