Under the terms of the agreement, REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power, will lend Damodar Valley Corporation (DVC) Rs. 4,527.68 crore so that DVC can build a 1,320 MW thermal power project (2x660 MW) at Raghunathpur in West Bengal.

The REC and DVC project, Raghunathpur Thermal Power Station Phase-II, will greatly increase West Bengal's capability for producing electricity. The project, which has a combined capacity of 1,320 MW, represents a significant turning point in the region's energy landscape.

As the project progresses, REC and DVC remain dedicated to ensure its successful implementation, adhering to the highest standards of efficiency, innovation, and environmental responsibility. This strategic partnership between REC and DVC underlines their collective commitment to foster sustainable development and strengthen the power sector.

The agreement was signed in the presence of Ram Naresh Singh, Chairman; Arup Sarkar, Member (Finance); Dr. John Mathai, MemberSecretary; M. Raghu Ram, Member (Technical); Joydeep Mukherjee, Executive Director (Finance); and Sumit Kumar Das, Senior General Manager (Finance) from Damodar Valley Corporation, and Pankaj Verma, CPM from REC Limited.