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Rural Electrification Corporation

Change of guard: Who is Sanjay Malhotra, Centre's pick as new RBI governor?

As revenue secretary, Malhotra took key decisions, including rationalisation of capital gains tax

Change of guard: Who is Sanjay Malhotra, Centre's pick as new RBI governor?
Updated On : 09 Dec 2024 | 11:29 PM IST

REC to issue deep-discount bonds to raise Rs 5,000 crore in March

The state-run financier plans to raise the money through 10-year, deep-discount bonds and the issue is likely to see strong investor demand, the sources said

REC to issue deep-discount bonds to raise Rs 5,000 crore in March
Updated On : 29 Feb 2024 | 5:05 PM IST

Want to be a one-stop debt solution for renewable energy: REC chairman

'We are targeting a tenfold increase in our renewable energy portfolio to Rs 3 trillion by 2030'

Want to be a one-stop debt solution for renewable energy: REC chairman
Updated On : 20 Sep 2023 | 10:38 PM IST

REC, Avaada Group sign pact for energy projects worth Rs 20,000 crore

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 officials and Avaada Group Chairman Vineet Mittal at the sidelines of the ongoing G20 Clean Energy Ministerial meeting in Goa. Avaada is a leading company in India's renewable energy sector. Mittal said projects, spanning across various states, will be implemented over the next two years. The total projects are worth Rs 20,000 crore. This landmark collaboration with REC symbolises a monumental stride towards India's energy self-sufficiency, he noted. "It exemplifies our staunch commitment to nurturing a sustainable future and propelling India's green energy transition," he added. Mittal said there is a project in Bihar, another in Rajasthan, and also there are projects in Maharashtra, which would be implemented over the next two years. He said that in the coming five years, Avaada is primed

REC, Avaada Group sign pact for energy projects worth Rs 20,000 crore
Updated On : 21 Jul 2023 | 6:26 PM IST

Discoms' dues to gencos down by Rs 24,000 crore on back of loan scheme

But cumulative dues remain at a high of Rs 1.13 trillion

Discoms' dues to gencos down by Rs 24,000 crore on back of loan scheme
Updated On : 30 Nov 2022 | 9:38 PM IST

Power shocks: Discoms need transparency

Only transparent pricing and accounting will help the discoms recover their dues

Power shocks: Discoms need transparency
Updated On : 26 Aug 2022 | 12:39 AM IST

Fresh setback for NARCL as two power NBFCs PFC and REC back out

Bad bank unlikely to take up any power assets in the first list

Fresh setback for NARCL as two power NBFCs PFC and REC back out
Updated On : 27 Jan 2022 | 6:10 AM IST

Rs 75,000 cr disbursement to discoms under special liquidity scheme

Under the scheme, govt-owned lenders PFC and REC extended special one time loan to discoms to clear their due to the power generating companies

Rs 75,000 cr disbursement to discoms under special liquidity scheme
Updated On : 02 Apr 2021 | 11:39 PM IST

A long jump for IIFCL as DFI tag to support financial needs, growth

Its planned incorporation into a larger development finance institution could present challenges for a company with a founding covenant that restricted its scale of operations

A long jump for IIFCL as DFI tag to support financial needs, growth
Updated On : 19 Feb 2021 | 6:10 AM IST

Renewable, T&D assets dominate PFC & REC loan books as thermal loses steam

Stress in conventional power generation space and no new private investment in the sector see the two lenders gradually shift to newer areas

Renewable, T&D assets dominate PFC & REC loan books as thermal loses steam
Updated On : 15 Sep 2020 | 1:03 AM IST

Equity capital markets proceeds up 38% at $21.4 billion in 2019

Initial public offerings experienced their third consecutive annual decline, totalling $2.5 billion in 2019, down 46.2 per cent from last year

Equity capital markets proceeds up 38% at $21.4 billion in 2019
Updated On : 07 Jan 2020 | 12:09 AM IST

Don't be lured by PFC, REC valuations

Investors should gauge if they meet the promise on loan upgrades before taking new positions

Don't be lured by PFC, REC valuations
Updated On : 18 Nov 2017 | 1:42 AM IST

Rural Electrification Corp Q1 net profit down 8.42% at Rs 1,301.14 crore

The company's net profit was Rs 1,420.86 crore in the quarter ended June 30, 2016

Rural Electrification Corp Q1 net profit down 8.42% at Rs 1,301.14 crore
Updated On : 11 Aug 2017 | 6:29 PM IST

Rural Electrification Corp to seek approval to raise Rs 50,000 crore

REC board had, earlier this month, cleared the company's fund raising plans

Rural Electrification Corp to seek approval to raise Rs 50,000 crore
Updated On : 28 Aug 2016 | 10:02 PM IST