REC Ltd Sees Significant Growth in Loan Sanctions for Renewable Energy Projects
State-owned REC Ltd reported a 24.17% increase in loan sanctions to Rs 1,12,747 crore in Apr-Jun FY25. Renewable energy projects saw a 58.72% rise, with disbursements more than doubling to Rs 5,351 crore. The company's growth highlights stronger focus on the power sector.
- Country:
- India
State-owned REC Ltd announced on Monday a substantial growth in loan sanctions, totaling Rs 1,12,747 crore for the April-June FY25 period, marking a notable year-on-year increase of 24.17%.
In the same period last year, the company had sanctioned loans worth Rs 90,797 crore, according to an official exchange filing.
Loan disbursements saw a rise of 27.89% to Rs 43,652 crore during the review period.
Significantly, Rs 39,655 crore was earmarked for renewable energy projects in the June quarter of FY25, representing a 58.72% increase compared to the year-ago period. Loan disbursements in this sector more than doubled to Rs 5,351 crore from Rs 1,534 crore.
REC, operating under the Ministry of Power as a non-banking financial company (NBFC), remains focused on financing the power sector in India.
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