Leading power sector non-banking financial company (NBFC) REC Limited said it has clocked the highest ever loan sanctions in its history at Rs 3.55 trillion during the last financial year 2023-24. It said the loan disbursement was also a record high at Rs 1.61 trillion during the same period.
The NBFC, which has widened its scope beyond pure play power sector, now lends to green energy, infrastructure, and new age energy transition projects as well. Last year, REC signed Memoranda of Understanding (MoUs) worth Rs 2.85 trillion during the G20 Energy Transition Ministerial with close to 25 renewable energy companies to lend for clean energy projects.
