REC Limited and the National Investment and Infrastructure Fund Limited (NIIFL) have entered into a MoU to work together on a range of financing options for both renewable energy projects and extensive infrastructure projects in India.
In January 2024, REC Limited was appointed as the central agency for the Pradhan Mantri Suryodaya Yojana initiative aimed at deploying rooftop solar systems in the residential sector.
Recently, in January 2024, REC Limited was designated as the main executor for the rooftop solar initiative by the Ministry of New and Renewable Energy. In the same month, REC Limited declared a successful fundraising of approximately Rs 35 billion through the green bonds’ issuance.
In December 2023, in accordance with the government’s Revamped Distribution Sector Scheme, REC Limited and KfW inked a $215 million financing agreement to improve the distribution infrastructure of distribution companies.
