REC to Drive India’s Transition to Net Zero as a Development Financial Institution

REC to Drive India’s Transition to Net Zero as a Development Financial Institution

REC Limited, a public infrastructure finance company under the Ministry of Power, is being considered to be given the status of a development financial institution (DFI) to steer global climate ...
REC Limited Posts Annual Profit of ₹100 Billion, its Highest-Ever

REC Limited Posts Annual Profit of ₹100 Billion, its Highest-Ever

REC Limited, a public infrastructure finance company, reported a total income of ₹392.30 billion (~$5.05 billion) for the financial year (FY) 2022, an 11% increase compared to ₹354.10 billion (~$4.56 ...
REC Limited Subsidiary Issues Consultancy Tender for a Floating Solar Project in Delhi

REC Limited Subsidiary Issues Consultancy Tender for a Floating Solar Project in Delhi

REC Power Development and Consultancy Limited (RECPDCL), a wholly-owned subsidiary of REC Limited, has invited bids to select a consultant for providing consultancy services to develop a floating solar project ...
/ / Solar, Tenders & Auctions
Loans Provided to Renewable Energy Sector by REC Limited Up 10% YoY in Q3 FY22

Loans Provided to Renewable Energy Sector by REC Limited Up 10% YoY in Q3 FY22

REC Limited, a public infrastructure finance company involved in financing power projects, disbursed ₹4.7 billion (~$62.93 million) in loans to the renewable energy sector in the third quarter (Q3) of ...
/ / Finance and M&A, Other
REC Limited Raises $1.175 Billion to Provide Low-Cost Financing for Power Projects

REC Limited Raises $1.175 Billion to Provide Low-Cost Financing for Power Projects

REC Limited, a public infrastructure finance company, involved in financing power projects, has raised $1.175 billion (~₹82.45 billion) from a consortium of seven banks as the Mandated Lead Arrangers and ...
/ / Finance and M&A, Other
REC Limited to Avail a Loan of $169.5 Million from KfW Bank to Finance Solar Projects

REC Limited to Avail a Loan of $169.5 Million from KfW Bank to Finance Solar Projects

REC Limited, a public infrastructure finance company involved in financing power projects, has entered into an agreement with Germany-based KfW Development Bank to avail official development assistance (ODA) loan of $169.5 million ...
/ / Finance and M&A, Solar
REC Limited Loans ₹9.51 billion to Renewable Energy Sector in Q1 FY 2022, Up 55% QoQ

REC Limited Loans ₹9.51 billion to Renewable Energy Sector in Q1 FY 2022, Up 55% QoQ

REC Limited has announced the financial results for the first quarter (Q1) of the financial year (FY) 2022. REC is an infrastructure finance company involved in financing power projects. The company ...
/ / Other, Renewable Energy
Daily News Wrap-Up_ REC Limited Raises $500 Million Through Dollar Bond Issue

Daily News Wrap-Up: REC Limited Raises $500 Million Through Dollar Bond Issue

Here are some noteworthy cleantech announcements of the day from around the world: State-run rural electrification company REC Limited has raised $500 million through a bond issue under its $7 ...
/ / Other, Renewable Energy
DISCOM Dues to Renewable Generators Reach ₹121 Billion in December 2020

DISCOM Dues to Renewable Generators Reach ₹121 Billion in December 2020

Distribution companies (DISCOMs) owed nearly ₹121.12 billion (~$1.65 billion) to renewable energy generators (excluding disputed amounts) in overdue payments across 380 pending invoices, according to data released by the Ministry ...
/ / Grid, Market & Policy
REC Earmarks ₹27.9 Billion Loan to Help Jammu and Kashmir DISCOM With its Dues

REC Earmarks ₹27.9 Billion Loan to Help Jammu and Kashmir DISCOM With its Dues

REC Limited has approved a ₹27.9 billion (~$380.9 million) loan to the Jammu Kashmir Power Corporation Limited (JKPCL) under the liquidity infusion program of the Indian Government’s Aatmanirbhar Bharat initiative. The ...
REC to Install 1,650 Solar Lights in Nashik Under its CSR Program

REC to Install 1,650 Solar Lights in Nashik Under its CSR Program

REC Foundation, the corporate social responsibility (CSR) arm of REC Limited, has floated a tender for installing 1,650 solar street lights in the Nashik district of Maharashtra on a turn-key ...
/ / Solar, Tenders & Auctions
REC Subsidiary to Empanel Owner’s Engineer for Developing Solar Projects

REC Subsidiary to Empanel Owner’s Engineer for Developing Solar Projects

The REC Power Distribution Company Limited (RECPDCL), a wholly-owned subsidiary of REC Limited, has invited bids for the empanelment of owner's engineer for solar power projects across India. The tender ...
/ / Solar, Tenders & Auctions
Power Finance Corporation Releases ₹306 Billion as Part of DISCOMs’ Liquidity Package

Power Finance Corporation Releases ₹306 Billion as Part of DISCOMs’ Liquidity Package

The Power Finance Corporation Limited (PFC) has approved ₹306.07 billion (~$4.09 billion) as of July 31, 2020, as part of the liquidity package announced by the government for eligible distribution ...
/ / Grid, Market & Policy
REC Limited Disbursed ₹5.24 billion in Loans to Renewable Energy Sector in FY2020

REC Limited Disbursed ₹5.24 Billion in Loans to Renewable Energy Sector in FY2020

REC Limited has reported a 15.2% fall in its net profit during the financial year (FY) ending March 31, 2020, attributing it to market volatility as a result of the ...
PGCIL Approves ₹10.75 Billion As Rebate to DISCOMs on ISTS Charges Amid COVID Crisis

PGCIL Approves ₹10.75 Billion as Rebate to DISCOMs on ISTS Charges Amid COVID Crisis

The Power Grid Corporation of India Limited (PGCIL) announced that it had approved ₹10.75 billion (~$142.5 million) as a one-time consolidated rebate to distribution companies (DISCOMs) and power departments of ...
REC Incorporates Seven SPVs for Developing Transmission Network for Solar Projects

REC Incorporates Seven SPVs for Developing Transmission Network for Solar Projects

REC Limited, a public infrastructure finance company in India’s power sector, announced that its board of directors had approved a proposal to incorporate seven project-specific special purpose vehicles (SPVs) as ...
/ / Grid, Other
REC Raises $700 Million Through Global Medium-Term-Note Program

REC Raises $700 Million Through Global Medium-Term-Note Program

The REC Limited (Formerly, Rural Electrification Corporation of India), a public sector enterprise under the Government of India, has raised $700 million through initial foray of its $5 billion global ...
/ / Finance and M&A, Solar