REMC and IRFC Partner to Finance Power Projects for Indian Railways

On January 2, 2025, REMC Ltd., a subsidiary of RITES Limited, signed a Memorandum of Understanding (MoU) with the Indian Railway Finance Corporation (IRFC). This partnership aims to explore financing options for power projects that will supply electricity to Indian Railways.

Areas of Collaboration

The MoU outlines several areas where REMC and IRFC will work together:

• Providing transaction advisory and project management services.
• Reviewing detailed project reports (DPRs) and offering consultancy.
• Advising on financing power projects linked to the Railways, excluding those directly handled by REMC Ltd.

Focus on Captive Power Projects

The partnership will support financing for thermal, nuclear, and renewable energy projects established under a captive model. These projects may involve joint ventures between Indian Railways and other entities.

Leveraging Strengths for Smooth Execution

Both REMC and IRFC plan to use their combined expertise and resources to ensure efficient project implementation.

About REMC Ltd

REMC Ltd is a subsidiary of RITES Ltd, with RITES holding a 51% stake and Indian Railways holding 49%. The company focuses on power management and generation for Indian Railways. It manages power procurement through ‘open access’ and handles renewable energy and energy-efficiency projects.

Rites share price opened at ₹300.00, reached a high of ₹304.90, and is currently trading at ₹298.70, up by ₹5.80 or 1.98% as of 10:01 AM on January 3.

About IRFC

Indian Railway Finance Corporation (IRFC) is a public sector company that raises funds for growth and operations through capital markets and other borrowings. The Government of India holds the majority stake, and the Ministry of Railways oversees its operations.

IRFC share price opened at ₹153.40, reached a high of ₹156.80 and is currently trading at ₹154.50, up by ₹2.46 or 1.62% as of 9:57 AM on January 3.

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