Hyderabad: Rural Electrical Corporation Limited, a Government of India enterprise, has come forward to provide `24,000 crore for Telangana State Genco power projects of 6,280 MW installed capacity — 800 MW at KTPS, 1080 MW at Bhadradri in Khammam and 4400 MW at Damaracherla in Nalgonda.

A memorandum of understanding was signed between REC chairman and managing director Rajeev Sharma and TSGenco chairman and MD D. Prabhakar Rao in the presence of Chief Minister K. Chandrasekhar Rao at his Camp Office on Saturday.

REC is a Navaratna Enterprise and provides financial assistance for rural electrification as well as all types of power generation, transmission and distribution projects. With this, the financial closure has been achieved for the 6,280 MW power projects as mandated by the CM. TSGenco will pitch in `3,000 crore. This apart, NTPC, as mandated by the Centre, will spend `24,000 crore for its 4,000 MW project and Singareni `4,000 crore. Another `21,500 crore will be invested in solar projects and evacuation and transmission lines.