“similarly funding within the equity percentage Capital of EESL (a joint venture company of NTPC, REC,% & electricity Grid Corp) upto an quantity of Rs 99 crore,” REC stated in BSE submitting these days. The decison became taken in a meeting of board of administrators on Friday.
in step with announcement, after the proposed investment, the shareholding of REC in EESL will growthfrom presently 28.seventy nine according to cent (amounting to Rs 47.50 crore) to 31.7 per cent (amounting to Rs 146.50 crore) of the put up problem paid up capital of EESL.
A joint venture of NTPC Ltd, electricity Finance Corp, REC and POWERGRID, the EESL was set upbeneath electricity Ministry to facilitate implementation of energy performance initiatives.
EESL is a notable strength carrier employer (ESCO) that seeks to unencumber power efficiency marketin India, anticipated to at greenback 12 billion that could potentially result in strength financial savingsof up to 20 in keeping with cent of cutting-edge consumption, by manner of revolutionary businessand implementation fashions.
It additionally acts as the useful resource centre for capability constructing of state DISCOMs, ERCs, SDAs, upcoming ESCOs, economic establishments, and so on.
The REC additionally advised the BSE that the board has accredited the propsal of sale & transfer of fifty,000 equity stocks of Rs 10 every of NRSS XXXVI Transmission Ltd (a transmission venture), an entirely Owned subsidiary of RECTPCL (subsidiary of REC) to a success bidder (for the task) Essel Infraprojects Ltd.
(This story has no longer been edited by using NDTV personnel and is car-generated from a syndicated feed.)
