Rural Electrification Corporation offers $8.8 billion financial assistance to Andhra's power sector

The publicly-owned Rural Electrification Corporation (REC) has signed three deals for financial assistance of around $8.8 billion to the Andhra Pradesh power sector. REC will grant $5.8 billion to Andhra Pradesh Power Generation Corp, $1.5 billion to Transmission Corporation of Andhra Pradesh and $1.5 billion to the state’s power distribution companies (discoms).

Source: Money Control