NEW DELHI : REC Limited has sanctioned a Rs 6,075 crore loan to renewable energy company Greenko for setting up a 1,440-megawatt Standalone Pumped Storage Project. REC Ltd is a Maharatna Central Public Sector Enterprise under the Union Ministry of Power. Established in 1969, REC Limited is an NBFC focusing on power sector financing and […]
REC Approves Rs 3,081 Crore for Serentica’s Solar-Wind Project in Karnataka – EQ
New Delhi [India] : REC Limited has sanctioned debt funding worth Rs 3,081 crore to renewable energy company Serentica Renewables for its 560 MW peak greenfield solar-wind hybrid project in Gadag in Karnataka. REC Ltd is a Maharatna Central Public Sector Enterprise under the Union Ministry of Power. Established in 1969, REC Limited is an […]
REC signs USD 100 million Foreign Currency Term Loan Agreement with EXIM Bank – EQ
REC Limited, the Maharatna Central Public Sector Enterprise under the Ministry of Power, has signed a Foreign Currency Term Loan Agreement for USD 100 Million, with Export Import Bank of India (EXIM Bank). The proceeds of the loan will be used towards refinance for on-lending to REC’s borrowers in power, infrastructure and logistics sectors for […]
REC to provide Rs 45.27 B Loan for West Bengal power project – EQ
REC Limited has partnered with Damodar Valley Corporation (DVC) to provide a loan of Rs 45.27 billion for a 1,320 MW project (2×660 MW) at Raghunathpur in West Bengal. The collaborative Raghunathpur Phase-II project between REC and DVC will significantly contribute to West Bengal’s power generation capacity. With a combined capacity of 1,320 MW, this […]
REC to provide loan to Damodar Valley Corporation for setting up 1,320 MW Thermal Power Project in Raghunathpur, West Bengal – EQ
REC Limited, the Maharatna Central Public Sector Enterprise under the Ministry of Power, has entered into a pact with Damodar Valley Corporation (DVC), under which REC will provide a loan of Rs. 4,527.68 crore to DVC for setting up a 1,320 MW thermal power project (2×660 MW) at Raghunathpur in West Bengal. The Raghunathpur Thermal […]
SJVN, a prominent company, makes noteworthy progress with multiple achievements: signing a Memorandum of Understanding (MoU) with REC – EQ Mag
The state-owned power generation company, SVJN Ltd, has announced in three separate exchange filings that it has signed an MoU with REC, has received approval from its board to acquire an additional stake in Cross Border Power Transmission Company, and its subsidiary SJVN Green Energy has received an LOI from Punjab State Power Corporation. SJVN […]
REC, Avaada Group sign pact for energy projects worth Rs 20,000 crore – EQ Mag
The MoU was signed between REC officials and Avaada Group Chairman Vineet Mittal at the sidelines of the ongoing G20 Clean Energy Ministerial meeting in Goa Rural Electrification Corporation (REC) has signed a memorandum of understanding with Avaada Group to fund its energy transition projects worth Rs 20,000 crore. The MoU was signed between REC […]
REC organizes ‘Bijli Utsav’ in Ranchi as part of Azadi Ka Amrit Mahotsav – EQ Mag
As part of ‘Azadi Ka Amrit Mahotsav’, REC Limited, a Maharatna Company under the Ministry of Power, Government of India, organized ‘Bijli Utsav’ in Ranchi, Jharkhand on 29th June, 2023. Citizens from villages who benefited from various government schemes in the power sector shared their experiences and views on how electricity transformed their lives. The […]
REC plans to increase loan book by two-fold to Rs 10 lakh crore by 2030 – EQ Mag
State-owned non-banking finance firm REC Ltd is planning to increase its loan book over two-fold to Rs 10 lakh crore by 2030, including Rs three lakh crore for renewable energy projects. This assumes significance given India’s ambitious target of having 500GW of renewable energy capacity by 2030. REC Ltd’s loan book is Rs 4.35 lakh […]
REC to provide Rs 21,086 cr financial assistance to MP discoms, MPPMCL, Rewa Ultra Mega Solar project – EQ Mag
State-owned REC Ltd will extend financial assistance worth Rs 21,086 crore to discoms in Madhya Pradesh, MP Power Management Company Ltd & Rewa Ultra Mega Solar project. REC has inked three separate pacts with MP Power Management Company Limited (MPPMCL), discoms in Madhya Pradesh and Rewa Ultra Mega Solar Ltd to this effect. An MoU […]