REC has signed a memorandum of understanding (MoU) with Jawaharlal Nehru Port Authority (JNPA) for financing upto Rs 45,000 crore for various upcoming projects of JNPA, which includes development of Vadhavan Port.

This MoU is to establish a framework for cooperation between JNPA and REC whereby JNPA implements projects in the infrastructure sector of its expertise and REC shall provide the required funds.

JNPA is an undertaking of Government of India, and is a premier container handling Port, accounting for around 50% of the total containerized cargo volume, across the major ports of India.

REC is engaged in providing financial assistance to state electricity boards, state government departments and rural electric cooperatives for rural electrification projects as are sponsored by them.