The Company was listed on the National Stock Exchange and the Bombay Stock Exchange on 12 March 2008. The App “GARV” (Grameen Vidyutikaran), which provides real-time updates on electrification status of 18452 UE villages, was launched on 14th Oct, 2015 The mobile app is accessible to all stakeholders including the general public at large. GARV APP is an application developed and maintained by REC, incepted to aid the Grameen Vidyutikaran Mission running under DDUGJY (Deen Dayal Upadhyaya Gram Jyoti Yojana). Eligible projects include solar, wind, small hydro, biomass power, and cogeneration power & hybrid projects The company has tied up a line of credit for €100M (approximately ₹6000M) with KfW under Indo-German Development Cooperation for financing renewable energy power projects at concessional rates of interest. REC also offers loan products for financing Renewable Energy projects. ![]() The company is also actively involved in physical as well as financial monitoring of T&D schemes. REC has financed T&D schemes for system improvement, intensive electrification, pump-set energisation and APDRP Programme. It engages in ascertaining financial requirements of power utilities in the country in the T&D sector along with appraising T&D schemes for financing. It also provides consultancy, project monitoring and financial/ technical appraisal support for projects, also in the role of nodal agency for Government of India schemes or projects. The company sanctions loan as a sole lender or co-lender or in consortium with or without the status of lead financer. The company is primarily engaged in providing finance for rural electrification projects across India and provides loans to Central/ State Sector Power Utilities, State Electricity Boards, Rural Electric Cooperatives, NGOs and Private Power Developers. Business operations in India are supported by a network of 22 Regional Offices, with its corporate headquarters at Gurugram and a registered office in New Delhi. The company is listed on both the National Stock Exchange and the Bombay Stock Exchange. REC is the 12th Maharatna Company functioning under the purview of the Ministry of Power. REC looking to increase share of green energy in its loan portfolio to 30% by 2030. REC leverages its pan-India network of 22 regional offices for development and conduct of business. The inclusion of REC in MSCI solidifies REC's status as a leading player in the financial sector and market, and opens up new horizons to expand its reach and influence on a global scale and level.įurther, REC has also diversified into non-power infrastructure & logistics sector to cover areas such as airports, metro, railways, ports, bridges, etc. Recently, REC has secured coveted place in the esteemed Morgan Stanley Capital International (MSCI) Global Standard Index, effective from 1st September 2023. However, REC has maintained that merging PFC-REC is no longer an option. On 28 March, PFC announced that it had completed making the payment for the acquisition and intended to merge REC with itself in 2020. On 20 March 2019, PFC signed the agreement to acquire a 52.63% controlling stake in REC for ₹14,500 crore (US$1.8 billion). ![]() The PSU provides loans to Central/State Sector Power Utilities in the country, State Electricity Boards, Rural Electric Cooperatives, NGOs and Private Power Developers. It finances and promotes power projects across India. REC Limited, formerly Rural Electrification Corporation Limited, of which Power Finance Corporation Limited (PFC) is holding company, which in turn is under the ownership of the Ministry of Power, the Government of India. REC Power Distribution Company Limited (RECPDCL).REC Transmission Projects Company Limited (RECTPCL).
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