Author and energy finance analyst Kashish Shah said the PFC and the REC have lent extensively to coal-fired power projects, with Rs 343,746 crore ($49bn), or 54 per cent of their total loan book, exposed to thermal power New Delhi: Government-owned Power Finance Corporation (PFC) has accumulated non-performing assets (NPAs) totalling Rs 47,454 crore ($6.8bn) […]
Renewable is as good as an IT industry for India
Renewable is as good as an IT industry for India: Ashish Khanna, MD & CEO, Tata Power Solar and President, Tata Power Renewables He added that India is not taking advantage of it at the current level Ashish Khanna in a recently-held media video round-table by Tata Power Solar spoke to journalists about the company’s future plans, the […]
Appointment of Shri Ajoy Choudhary as Director Finance in REC
Appointment of Shri Ajoy Choudhary as Director Finance in REC For more information please see below link:
Central PSU of Power Ministry REC steps up relief work amidst lockdown to curb Covid-19 Pandemic
The PSU reaches out to over 76,000 needy people with food and ration The Navratna NBFC ties up with Delhi Police to provide 500 food packets on daily basis Had earlier contributed Rs. 150 Cr. to PM CARES fund From Srinagar to Kanyakumari, Jamnagar to Shillong, starvation is as much a threat as Covid-19 […]
Board of REC approves incorporation of SPVs for executing seven transmission projects
At meeting held on 25 March 2020 The Board of REC at its meeting held on 25 March 2020 has approved the proposal for incorporation of seven (7) Project Specific Special Purpose Vehicles (SPVs) as Wholly Owned Subsidiaries of REC Transmission Projects Company (RECTPCL), a wholly owned subsidiary of REC, for development of following transmission […]
NTPC, NHPC, REC & Other Power Ministry PSUs Donate Huge Rs 925 Cr To PM-CARES Covid Fund
On Tuesday, the public sector undertakings of Ministries of Power and MNRE announced that it would contribute a whopping Rs.925 crore to the PM CARES On Tuesday, the public sector undertakings of Ministries of Power and MNRE announced that it would contribute a whopping Rs.925 crore to the PM CARES fund launched by Prime Minister […]
IWPA suggests changes in the CERC – REC Regulations (Third Amendment)
According to a recent office memorandum by MNRE, the IWPA has suggested making a few amendments to the CERC REC Regulations (Third amendment) dated 30th December 2014. The amendment talks about the eligibility norms for the DISCOMs that have significantly achieved RPO (as per the regulation) As per the IWPA’s suggestion, a RE multiplier can […]
Now RE developers’ letter of comfort from PFC, REC, IREDA at par with bank guarantee
Developers need bank guarantees for placing bids for clean energy projects offered by nodal agencies like Solar Energy Corporation of India (SECI) and state-run power giant NTPC. New Delhi: To improve business environment for clean energy projects and attract investments, the government has decided to treat letter of comfort (undertaking) issued by state-run shadow banking […]
Power Finance Corporation, REC merger hits roadblock
In March 2019, PFC had completed acquisition of a majority stake in REC by transferring Rs 14,500 crore to the government with hope of merger of the two firms in 2019-20 NEW DELHI: The proposed merger of REC with state-owned shadow banking firm Power Finance Corporation has hit a roadblock and is not likely to […]
REC Trade Result – January 2020
The January trade continued the trend at high MCP of Rs 2,400 for solar RECs on both the exchanges while it also crossed the INR 2,000 trend for Non-solar on both IEX & PXIL almost after eight years. With the Financial Year 2019-2020 coming to an end, the demand for solar and Non-solar increased on […]