Latest News | REC, CEEW Ink Pact to Work on Improving Discoms' Operational, Financial Sustainability
Get latest articles and stories on Latest News at LatestLY. State-owned REC Ltd on Thursday said it has signed an agreement with Council on Energy, Environment and Water (CEEW) to collaborate on activities to improve the operational and financial sustainability of discoms.
New Delhi, Jul 7 (PTI) State-owned REC Ltd on Thursday said it has signed an agreement with Council on Energy, Environment and Water (CEEW) to collaborate on activities to improve the operational and financial sustainability of discoms.
The Memorandum of Understanding (MoU) was signed in the presence of R Lakshmanan, Executive Director – REC Limited, and Arunabha Ghosh, CEO at CEEW, REC said in a statement.
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"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.
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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 Limited is an NBFC focusing on power sector financing and development across India.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)