REC secures USD 169.5 million ODA loan from KfW Development Bank

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REC Limited has entered into an agreement with KfW Development Bank to receive an ODA term loan of USD 169.5 million under a bilateral Indo-German partnership in accordance with the approval granted by the Department of Business economics, Ministry of Finance, government. from India. The proceeds of the ODA loan will be deployed for the partial financing of innovative production projects based on solar photovoltaic technology in India at competitive interest rates. This is the fifth line of credit signed between REC Limited and KfW for the financing of projects in the electricity sector and the third line of credit for the financing of renewable energy projects.

REC is constantly redefining its policies to align with market demands and developing financial solutions and mechanisms that create scalable and efficient ways of channeling private and public investment in the renewable energy space. As proof, REC offers the lowest interest rates to the renewable energy sector among all the segments financed by the company.

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Posted on: Sunday December 26, 2021 8:45 am IST


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