The 50th Annual General Meeting of REC Limited was held on 29th August 2019 at New Delhi. Mr. Ajeet Kumar Agarwal, Chairman and Managing Director, REC while addressing the shareholders at the meeting said that the company is focusing on financing renewable energy projects and supporting the flagship programmes of the Ministry of Power. During the financial year 2018-19, REC sanctioned a total loan assistance of Rs. 115,957 crore which included Rs. 41,432 crore towards Conventional Generation projects; Rs. 11,875 crore towards Renewable Energy projects; Rs. 50,610 crore towards T&D projects; and Rs. 12,040 crore towards Short Term Loans & Other Loans. Further, the Company disbursed Rs. 72,165 crore in the financial year 2018-19, which included Rs. 19,582 crore towards Conventional Generation projects; Rs. 6,628 crore towards Renewable Energy projects; Rs. 31,364 crore towards T&D projects; Rs. 8,870 crore towards Short Term & Other Loans and Rs. 5,722 crore towards the loan component of various DDUGJY schemes, including Decentralized Distributed Generation (DDG).
“During FY 2018-19, REC’s sanctions under renewable energy category were 69% higher than the previous year”, Mr. Agarwal said.