REC gets loan from Deutsche Bank to finance green energy projects in India

11 Jul 2024 Evaluate

REC has got a loan of 31.96 billion Japanese yen (equivalent to $200 million) from Deutsche Bank's GIFT City branch to finance green energy projects in India. The facility is a first of its kind collaboration between an Indian government entity and Deutsche Bank AG, GIFT City branch. The facility also marks one of the first JPY-denominated green loan transaction for Deutsche Bank AG, GIFT City.

This successful transaction is in line with REC's commitment to enhance its green energy financing and sustainable projects capabilities as well as the global community's support for sustainable development projects in India. This benchmark transaction is anticipated to pave way for more such collaborations in future which can help in achieving nation's goals in green space financing.  

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

491.05 -25.30 (-4.90%)
21-Nov-2024 16:59 View Price Chart
Peers
Company Name CMP
Power Finance Corp 453.75
REC 491.05
Indian Railway Finance 141.60
Satin Creditcare 148.05
MAS Financial Serv 277.25
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