REC Limited and PFC Limited, Maharatna CPSEs under the Ministry of Power and leading Infrastructure Financing NBFCs, have signed Common Loan Agreement with Meja Urja Nigam Private Limited (MUNPL), a 50:50 Joint Venture between NTPC Limited & Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL) for total loan amount of Rs. 26,850 Crore for the establishment of 2400 MW Meja TPP Stage-II Ultra-Super Critical units of 800 MW under Stage-Il (3x800 MW) with Air Cooled Condenser (ACC) system at Meja Tehsil, Prayagraj District, Uttar Pradesh with an estimated project completion cost of Rs. 38,357.81 crore. REC is the lead financer of the project and the loan has been funded in 50:50 by REC and PFC.

The Loan Documents were signed at Prayagraj, Uttar Pradesh by Srinivasa Rao Gaddamanugu, Chief Executive Officer, MUNPL , Shambhu Shankar Gupta, Chief General Manager, REC Regional Office Lucknow and Ms Shelly Gupta, GM, PFC, in the presence of Angshu Barua, Chief Financial Officer, MUNPL; H K Das, Executive Director, PFC  and D B Londhe, Executive Director, REC.