REC, PFC Fund Meja Thermal Power Expansion

# REC, PFC Fund Meja Thermal Power Expansion ### 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