The State received a shot in the arm for its ambitious power sector development programmes with the Rural Electrification Corporation coming forward to provide Rs. 9,000 crore loan assistance for strengthening the infrastructure.
Of the total amount, Rs. 3,000 crore would be utilised for setting up 500 MW solar power project by APGenco at Anantapur. The remaining would be utilised for transmission and distribution network in the State including the capital region. REC Chairman and Managing Director Rajeev Sharma and his APTransco and APGenco counterpart K. Vijayanand signed memorandum of understanding in presence of CM N. Chandrababu Naidu in Delhi on Wednesday.
