Railway Energy Management Company (REMC) and Indian Railway Finance Corporation (IRFC) have signed a memorandum of understanding (MoU) to explore collaborative opportunities for financing power projects aimed at supplying energy to Indian railways.
The partnership will focus on areas such as transaction advisory, project management services, detailed project report reviews, and consultancy services for financing power projects with backward and forward linkages to the Railways, excluding those awarded by REMC. The MoU will also facilitate the financing of thermal, nuclear, and renewable power projects under the captive model, established through joint ventures between Indian Railways and other entities. REMC a joint venture of RITES (holding 51 percent stake) and Indian Railways, specialises in power management and generation, while IRFC serves as the financing arm of Indian Railways.
