REC Limited, a Maharatna company under the Ministry of Power, has signed a Memorandum of Understanding (MoU) with the Energy Management Centre (EMC), Government of Kerala, to finance Pumped Storage Projects (PSP) in the state. The agreement, signed during the Global Green Hydrogen & Renewable Energy Summit 2025, marks a significant step toward strengthening Kerala’s renewable energy infrastructure.
Under this partnership, REC has committed ₹18,360 crore to the development of Pumped Storage Projects in Kerala over the next five years. The MoU was exchanged between Shri Saurabh Rastogi, Executive Director, REC, and Shri Dinesh Kumar, Joint Director, EMC, in the presence of senior officials, including Shri K R Jyothilal, IAS, Additional Chief Secretary (Power), Government of Kerala, and Shri M. Udaya Kumar, CPM, REC, Kerala. Several other dignitaries from EMC and the Kerala government were also present at the signing ceremony.
The initiative aligns with Kerala’s renewable energy goals, aiming to enhance energy storage capacity and ensure a stable power supply. Pumped Storage Projects play a crucial role in balancing electricity demand and integrating renewable energy sources by storing excess power for use during peak hours. The collaboration between REC and the Government of Kerala is expected to reduce reliance on fossil fuels and promote sustainable energy solutions.
The Global Green Hydrogen & Renewable Energy Summit 2025, organized by the Government of Kerala in Kochi on March 12-13, is supported by the Kerala State Electricity Board (KSEB) and the Energy Management Centre. The Energy Management Centre, an autonomous organization under the Department of Power, plays a key role in driving Kerala’s transition towards a greener and more energy-efficient future.
With this significant financial commitment, REC continues to support India’s renewable energy sector, reinforcing its position as a leading financer of sustainable power projects across the country.
 over the next five years. The agreement was exchanged during the Global Green Hydrogen & Renewable Energy Summit 2025.){kind=link}