REC Limited 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 over the next five years.
The agreement has an estimated cost of Rs 183.6 billion. The PSPs are expected to improve grid stability and support the integration of renewable energy sources. Additionally, the investment aligns with Kerala’s long-term energy strategy, which focuses on sustainable and efficient power management. The EMC, an autonomous body under the state’s Department of Power, will oversee the planning and implementation of these projects in collaboration with the Kerala State Electricity Board Limited.