Current Affairs - Business - Discussion

REC Limited was designated as the lead financer for the ₹26,850 crore loan facility for the expansion of the Meja Thermal Power Project Stage-II in Prayagraj, Uttar Pradesh. The loan agreement was signed by REC Limited and Power Finance Corporation (PFC) with Meja Urja Nigam Private Limited (MUNPL) on July 31, 2026. The debt facility is funded equally by REC and PFC. The project involves constructing three ultra-supercritical units of 800 MW each, adding a total of 2,400 MW to the state grid. REC Limited is a Maharatna Central Public Sector Enterprise under the Ministry of Power, established in 1969.