Mokokchung, 8 May (MTNews): REC Limited has inked an agreement with the state government to implement the Rural Electricity Distribution System Strengthening (RDSS) scheme in an effort to improve the quality, reliability, and affordability of electricity delivery in the Nagaland region. The agreement was signed in the presence of both parties’ senior officials on Saturday.
“A financially sustainable & operationally efficient Distribution Sector will improve the quality, reliability & affordability of power supply to consumers,” REC Limited tweeted on Saturday.
The RDSS scheme aims to develop a financially sustainable and operationally efficient distribution sector in rural areas, with the goal of providing consumers with an uninterrupted power supply.
Improvements to the current distribution infrastructure, such as the installation of new transformers and metres, will be done under the scheme.
The implementation of the RDSS scheme is part of the Government of India’s efforts to improve electricity access in rural areas and is expected to have a positive impact on the state’s economy by promoting economic growth and development.
REC LIMITED
REC came into being in 1969 to articulate a response to the pressing exigencies of the nation. During the time of severe drought, the leaders sought to reduce the dependency of agriculture on monsoons by energizing agricultural pump sets for optimized irrigation.
Thereafter, REC Limited has ventured into newer paths and expanded its horizons to emerge as a leader in providing financial assistance to the power sector in all segments, be it Generation, Transmission, or Distribution.
REC Limited, formerly Rural Electrification Corporation Limited, are a Maharatna company under the Ministry of Power and fund business with market borrowings of various maturities, including bonds and term loans apart from foreign borrowings, on their own.
It may be mentioned here that Maharatna Companies are decided based on various factors such as them having Navratna Company status and a profit of Rs 5000 crores during the last three years. They must also be listed in the Indian stock market and have a public shareholding.
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