REC avails green loan of JPY 60.53 billion to finance eligible green projects in India

26 Apr 2024 Evaluate

REC has successfully availed a Green Loan of Japanese Yen (JPY) 60.536 billion to finance eligible green projects in India. The green loan facility benefits from an 80% guarantee by Italian Export Credit Agency, SACE (Italy) under their innovative Push Strategy programme. The arrangement between SACE and REC is a breakthrough and a first-of-its-kind collaboration between an Indian government entity and SACE.

The green loan facility sets a benchmark in the Indian public sector landscape, for similar green financing transactions, highlighting a growing commitment to sustainable financing. The facility also marks SACE’s first JPY-denominated loan transaction and first green loan transaction in India.

REC is engaged in providing financial assistance to state electricity boards, state government departments and rural electric cooperatives for rural electrification projects as are sponsored by them.


REC Share Price

506.20 15.15 (3.09%)
22-Nov-2024 16:59 View Price Chart
Peers
Company Name CMP
Power Finance Corp 477.90
REC 506.20
Indian Railway Finance 142.15
Satin Creditcare 148.65
MAS Financial Serv 278.95
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