REC Inks Pact To Work On Improving Discoms' Operational, Financial Sustainability
The Memorandum of Understanding was signed in the presence of R Lakshmanan, Executive Director – REC Ltd.
State-owned REC Ltd. on Thursday said it has signed an agreement with Council on Energy, Environment and Water to collaborate on activities to improve the operational and financial sustainability of discoms.
The Memorandum of Understanding was signed in the presence of R Lakshmanan, Executive Director – REC Ltd., and Arunabha Ghosh, CEO at CEEW, REC said in a statement.
"REC and CEEW signed an MoU to collaborate on activities to improve the operational and financial sustainability of discoms through holistic deployment of smart meters, strengthening of power distribution networks and improved quality of service for electricity consumers," it said.
In addition to providing research and evaluation support, CEEW will collaborate with REC to conduct primary and secondary research to help discoms in their efforts to deploy smart meters. CEEW's research will also help to leverage smart metering infrastructure for improved service delivery and ensure a positive consumer experience, it said.
Lakshmanan said this partnership provides framework for future collaborative projects that can help improve the performance of discoms while bringing down their financial losses.
"Without financially sustainable discoms, India's energy transition will take much longer than desirable. This collaboration will allow us to support the ongoing transition in the power sector through on-ground research and evidence-based policy making," CEEW's CEO Ghosh said.
REC Ltd. is an NBFC focusing on power sector financing and development across India.