Tangendco’s Udangudi, DVC’s Bokaro Walk Away With A Third Of REC Loan Sanctions In Q1

Tangendco’s Udangudi, DVC’s Bokaro Walk Away With A Third Of REC Loan Sanctions In Q1

Team EnergyInfraPost

Tangedco’s 1,320 MW Udangudi and DVC’s 500 MW Bokaro are among major beneficiaries of Rs 33,868 crore loans sanctioned by REC during the quarter ended June.

The state-owned lender sanctioned Rs 10,453 crore to Tangedco’s project located in the Turicorin district of Tamil Nadu while DVC’s Bokaro was approved Rs 2,897 crore loan.

In addition, REC approved special term loan of Rs 2,100 crore to Rajasthan Rajya Vidut Utpadan Nigam Ltd.

During the quarter, the non-banking finance company also sanctioned special term loan of Rs 850 crore to AP Generation Corporation.

Maharashtra State Power Generation Company Ltd was approved loan of Rs 500 crore.

Loan disbursals

Sector-wise, power distribution was the largest beneficiary, garnering as much as 46 per cent of total loans disbursed by REC during April-June 2017. Generation got 37 per cent, transmission 10 per cent while the balance went to renewables.

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