In view of the growing need to diversify the resource base of the Corporation, a dedicated IC&D Division was set up in July 2004 to coordinate with multilateral agencies for tying up project based funds on concessional terms and to forge partnerships with international agencies for sharing international best practices.
So far, External Assistance of about 42000 million JPY & 140 million EUR has been tied up with Japan International Cooperation Agency (JICA) & Kreditanstalt fur Wiederaufbau(KfW) respectively through 4 Line of credits.
Japan International Cooperation Agency (JICA)- 1st line of Credit
Loan assistance |
20629 million JPY |
States covered |
Andhra Pradesh, Maharashtra & Madhya Pradesh |
Objectives |
Improving sub transmission systems in rural areas |
Works envisaged |
Construction of new & augmentation of 33/11 kV substations |
Japan International Cooperation Agency (JICA)- 2nd line of Credit
Loan assistance |
20902 million JPY |
States covered |
Haryana |
Objectives |
To achieve stability in power supply by strengthening intra-state transmission systems in the State of Haryana |
Works envisaged |
Construction of High Voltage Transmission Systems |
Kreditanstalt fur Wiederaufbau(KfW) - 1st line of Credit
Loan assistance |
70 million EUR |
States covered |
Andhra Pradesh |
Objectives |
Reduction in line losses, improvement in voltage regulation and reliability of power supply. |
Works envisaged |
Conversion of LV Distribution System into HV Distribution System |
|
|
Grant |
500,000 Euro for capacity building of REC & beneficiary Discoms. |
Kreditanstalt fur Wiederaufbau(KfW) – 2nd line of Credit
Loan assistance |
70 million EUR |
States covered |
Haryana |
Objectives |
Energy Efficiency & Reliability in Distribution Sector. |
Works envisaged |
System Improvements including HVDS |
|
|
Grant |
500,000 Euro for capacity building of REC & beneficiary Discoms. |
Role of REC
- To act as Financial Intermediary between External Funding agencies and the project implementers for securing Official Development Assistance (ODA) and other funds for financing eligible power sector projects
- To assist project implementers in formulation of project proposals as per requirement of MoP/MoF and external agencies
- To arrange GoI Guarantee for securing ODA financing
- To borrow in foreign currency and to on lend in domestic currency, thereby absorbing risks of foreign currency fluctuations.
- To act as nodal agency for overseeing project implementation as per norms of external agencies and to monitor the impact of the project on completion
To act as one of the USAID assisted DRUM partner implementing Agencies. Under DRUM, CIRE organizes training programmes related to areas such as Best Practices in distribution, loss reduction and distribution systems operations & Maintenance.
For any information please contact : Shri Ashok Awasthi,
General Manager (IC&D)
Phone No. 011-24368594
E-mail- a.awasthi@recl.nic.in
