Why in News?
REC Limited and Power Finance Corporation (PFC) have signed a ₹26,850 crore loan agreement with Meja Urja Nigam Private Limited (MUNPL) to fund the Stage-II expansion of the Meja Thermal Power Project in Prayagraj, Uttar Pradesh.
What is the project about?
- The expansion will add 2,400 MW to the state grid through three ultra-supercritical units of 800 MW each.
- Ultra-supercritical technology operates at higher temperatures and pressures, improving efficiency and reducing coal consumption and emissions compared to older plants.
- The project also uses an air-cooled condenser system, which saves water, and aims to provide stable power for industrial corridors and manufacturing clusters.
- The total project cost is estimated at ₹38,357.81 crore, with the debt facility shared equally by REC and PFC, and REC acting as the lead financer.
- MUNPL, the executing agency, is a 50:50 joint venture between NTPC Limited and UPRVUNL (Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited).
Exam Connect
REC Limited → Maharatna CPSE under Ministry of Power, established 1969
PFC → Maharatna CPSE, largest infrastructure finance company in power sector, established 1986
Ultra-supercritical technology → Higher efficiency, lower emissions than subcritical plants