REC raises about Rs 3,500 crore via yen-denominated green bonds

State-owned REC Ltd on Friday said it has raised JPY (Japanese Yen) 61.1 billion (about Rs 3,500 crore) by issuing green bonds. Proceeds from the issue of the Bonds will be applied to finance the eligible green projects in accordance with the company’s Green Finance Framework, the RBI’s ECB guidelines and the approvals granted by it from time to time, a statement said.