India's rural power company eyes lending push for renewables
The non-banking financial company is aiming to triple lending to clean energy projects, equipment makers
New Delhi
RURAL Electrification Corp (REC), a state-owned backer of India's power sector, plans to lend billions of rupees to clean energy projects and equipment makers this fiscal year as part of an expanded push into renewables that will also see it issue green bonds overseas.
The non-banking financial company is aiming to triple its clean energy lending and is expecting to set aside nearly 100 billion rupees (S$2.2 billion) for renewable energy in the financial year ending March 31, chairman PV Ramesh said in an interview.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early
Anglo rejects BHP takeover bid as significantly undervalued
India rice prices at three-month low on shrinking demand
Gold prices set for weekly decline ahead of US inflation data
Pricey coffee is here to stay as hoarding, heat hit Vietnam supply
Oil settles higher as weak US economic growth offset by supply concerns