Indian Bureaucracy, Gurugram, January 03, 2025| REC Limited, a Maharatna CPSE under the Ministry of Power and a leading NBFC, has disbursed loans worth ₹54,692 crore, up 17.98% year-on-year for the Quarter ended December 31, 2024. The quantum of renewable energy loan disbursements grew 58.09% year-on-year to ₹6,314 crore in the corresponding period.
For 9-months (Q1-Q3) FY24-25, REC disbursed total loans amounting to ₹1,45,647 crore, which is higher by 19.30% compared to ₹1,22,089 crore disbursed in corresponding period of FY23-24. Of this, renewable energy loans aggregated to ₹17,612 crore, up 78.68% YoY.
ABOUT REC LIMITED
REC is a ‘Maharatna’ company under the administrative control of the Ministry of Power, Government of India, and is registered with RBI as Non-Banking Finance Company (NBFC), Public Financial Institution (PFI) and Infrastructure Financing Company (IFC). REC is financing the entire Power-Infrastructure sector comprising Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage, Pump Storage projects, Green Hydrogen, Green Ammonia projects etc. In 2022-23, REC Limited has also diversified into the Non-Power Infrastructure sector comprising Roads & Expressways, Metro Rail, Airports, IT Communication, Social and Commercial Infrastructure (Educational Institution, Hospitals), Ports and Electro-Mechanical (E&M) works in respect of various other sectors like Steel, Refinery, etc.
REC Limited provides loans of various maturities to State, Central and Private Companies for creation of infrastructure assets in the country. REC Limited continues to play a key strategic role in the flagship schemes of the Government for the power sector and has been nodal agency for Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGAYA), Deen Dayal Upadhaya Gram Jyoti Yojana (DDUGJY), National Electricity Fund (NEF) Scheme which resulted in strengthening of last mile distribution system, 100% village electrification and household electrification in the country. REC has also been made the nodal agency for certain States and Union Territories for the Revamped Distribution Sector Scheme (RDSS). REC has also been made National Program Implementation Agency (NPIA) of PM Surya Ghar Muft Bijli Yojna. The loan book of REC stands at ₹5.46 lakh crore and Net Worth at Rs. ₹72,893 crores as on 30th September 2024.