Rural Electrification Corp. (REC), a state-owned backer of India’s power sector, plans to lend billions of rupees to clean-energy projects and equipment makers this fiscal year as part of an expanded push into renewables that will also see it issue green bonds overseas.
The non-banking financial company is aiming to triple its clean-energy lending and is expecting to set aside nearly Rs10,000 crore ($1.5 billion) for renewable energy in the financial year ending 31 March, chairman P.V. Ramesh said in an interview.
“We’re not only financing projects but also evacuation infrastructure and have been talking with manufacturers of equipment like wind turbines, solar panels and storage batteries,” Ramesh said in an interview in New Delhi where the lender, which has a loan book of Rs2 trillion, is based. Read More…
Credit By : Livemint
Latest posts by Livemint (see all)
- DGH May Review Plan To Sell 60% Stake In ONGC, Oil India Fields - February 21, 2018
- Electric Vehicle Makers To Reach Out To NITI Aayog, PMOFor Clarity On Govt Policy - February 20, 2018
- French Development Bank AFD Keen To Invest €100 Million In Smart City Project - February 18, 2018