Kochi: REC Ltd, a public sector financial institution under the Ministry of Power, has signed an agreement with the Energy Management Centre (EMC) of the Kerala government to finance pumped storage projects (PSP) worth Rs 18,360 crore over the next five years.
The agreement was formalized during the Global Green Hydrogen & Renewable Energy Summit 2025 in Kochi.
Focus on Pumped Storage for Energy Stability
The MoU was exchanged between Saurabh Rastogi, Executive Director of REC and Dinesh Kumar, Joint Director of EMC, in the presence of KR Jyothilal, Additional Chief Secretary (Power), Government of Kerala. Officials from the Kerala State Electricity Board (KSEB) and EMC were also present at the signing ceremony.
Pumped storage projects are considered essential for energy stability as they help manage fluctuations in renewable power generation. With Kerala increasingly shifting towards green energy, these projects aim to enhance grid reliability and store surplus energy for future use.
Government’s Push for Renewable Energy
The Kerala government is hosting the two-day Global Green Hydrogen & Renewable Energy Summit from 12-13 March, bringing together policymakers, industry leaders and experts to discuss sustainable energy initiatives.
The event, supported by KSEB and EMC, underscores the state’s focus on alternative energy sources, including green hydrogen and hydropower storage solutions.
The Energy Management Centre, an autonomous organization under Kerala’s Department of Power, plays a key role in energy efficiency and renewable energy policy implementation in the state.
Through its collaboration with REC, the government aims to strengthen Kerala’s renewable energy infrastructure and reduce dependence on conventional power sources.
This financing agreement aligns with REC’s broader strategy of supporting India’s energy transition, particularly in states aiming to scale up renewable energy capacity.
