Search result for 'rec'

Adani Energy Acquires Mahan Transmission: 2,800 MVA Substations & 740 ckm Transmission Line

March 27, 2025 20:48

Adani Energy Solution Ltd has acquired Mahan Transmission Ltd, a Rs 2,200 crore intra-state transmission project. The acquisition enhances Adani Energy's transmission network and strengthens MP's...

Adani Energy Acquires Mahan Transmission: 1,230 MW Power Evacuation

March 27, 2025 15:10

Adani Energy Solutions has acquired Mahan Transmission, a special purpose vehicle, to evacuate 1,230 MW power from Adani Power's upcoming expansion units in Singrauli district.

REC Approves Rs 1.7 Lakh Cr Borrowing for FY26

March 26, 2025 13:45

REC Ltd's board has approved a Rs 1.7 lakh crore borrowing plan for FY26, including Rs 1.55 lakh crore from domestic bonds and term loans.

REC Transfers Transmission SPVs to Power Grid, IndiGrid

March 25, 2025 15:01

REC's subsidiary, RECPDCL, has transferred four transmission SPVs to Power Grid Corporation of India Ltd and IndiGrid 2 Private Ltd. The projects include transmission lines, pooling stations, and...

PFC Chief Parminder Chopra Takes Charge of REC CMD

March 21, 2025 18:02

Parminder Chopra, CMD of PFC, has been given the additional charge of CMD REC by the Ministry of Power. The appointment is effective immediately for a period of three months.

IEX Trade Volumes Surge 9% in February | Indian Energy Exchange

March 3, 2025 18:15

Indian Energy Exchange (IEX) reports a 9% rise in trade volumes to 9,622 million units in February, driven by strong performance in renewable energy certificates and electricity markets.

Madhya Pradesh Attracts Record Rs 30.77 Lakh Cr Investment

February 25, 2025 21:02

Madhya Pradesh has secured a record Rs 30.77 lakh crore investment across sectors like clean energy, creating 21.4 lakh jobs. The state aims to become an investment hotspot, with Adani, Reliance,...

Madhya Pradesh Bags Record Rs 30.77 Lakh Cr Investment

February 25, 2025 17:54

Madhya Pradesh has secured a record Rs 30.77 lakh crore in investment commitments at its two-day investor summit, with major players like Adani, Reliance and NTPC making significant pledges.

Powergrid Acquires Bidar Transco: Rs 6.52 Crore Deal

February 18, 2025 19:27

Power Grid Corporation of India (Powergrid) has acquired Bidar Transco Ltd (BTL) for Rs 6.52 crore, including equity shares and assets, in a tariff-based competitive bidding process.

REC to Fund 1,000 MW Pakal Dul Hydro Project

February 11, 2025 19:13

REC Ltd will provide a Rs 2,147.50 crore term loan to Chenab Valley Power Project Ltd for the construction of the 1,000 MW Pakal Dul hydro power project in Jammu & Kashmir.

REC Q3 Profit Jumps 23% to Rs 4,076 Cr - Business News

February 6, 2025 15:39

REC Ltd's consolidated net profit surged 23% to Rs 4,076.35 crore in Q3 FY24, driven by higher income. The company also announced a third interim dividend and a joint venture for renewable energy...

IEX Trade Volume Jumps 16% in January 2025

February 4, 2025 17:54

Indian Energy Exchange (IEX) saw a 16% year-on-year rise in electricity trade volume in January 2025, reaching 10,910 million units. The exchange also recorded its highest ever monthly trade of...

IEX Net Profit Jumps 17% to Rs 107 Cr in Q3

January 23, 2025 18:11

Indian Energy Exchange (IEX) reported a 17% rise in net profit to Rs 107.29 crore in Q3 FY25, driven by higher revenues and increased electricity trading volume. The company also declared an...

Adani Energy Wins Rs 25,000 Cr Transmission Project

January 21, 2025 14:52

Adani Energy Solutions secures the largest transmission order ever, a Rs 25,000 crore Bhadla-Fatehpur HVDC project, boosting its order book to Rs 54,761 crore.

IEX Hits Record Electricity Trade Volume in December 2024

January 6, 2025 11:04

Indian Energy Exchange (IEX) achieved a record monthly electricity traded volume of 11,132 MU in December 2024, marking a 29% increase year-on-year. The Day-Ahead Market (DAM) volume also saw...

REC Loan Disbursements Surge 18% in Q3 to Rs 54,692 cr

January 3, 2025 17:40

REC Ltd's overall loan disbursements rose by 18% to Rs 54,692 crore in Q3 FY25, driven by strong growth in renewable energy loans. The company disbursed Rs 6,314 crore for renewable energy...

Reliance Acquires USD 13 Billion in 5 Years

December 31, 2024 14:54

Reliance Industries Ltd has spent USD 13 billion on acquisitions in the past five years across new energy, telecom, retail, and media, pivoting from oil to clean energy and consumer verticals.

Power Grid Corp Acquires Rajasthan IV 4A Power Transmission Project

December 30, 2024 19:04

Power Grid Corporation of India acquired the project special purpose vehicle (SPV) Rajasthan IV 4A Power Transmission Ltd (RIV4APTL) for Rs 18.37 crore. The project involves the establishment of a...

REC Forms Arm for Renewable Power Evacuation in Madhya Pradesh

December 25, 2024 19:28

REC has formed a subsidiary, Rajgarh III Power Transmission Limited, to evacuate power from renewable energy projects in Madhya Pradesh. The company will be transferred to the successful bidder...

Sanjay Malhotra New RBI Governor: Consensus Builder, Princeton Alum

December 9, 2024 20:43

Sanjay Malhotra, a Princeton-educated consensus builder and revenue secretary, takes over as RBI Governor, facing challenges of slow growth and high inflation.

Rooftop Solar Installations Surge in India: 10 Lakh Target by FY'25

December 4, 2024 18:45

India's rooftop solar installations are accelerating, with 10 lakh installations expected by fiscal end. The government has implemented several measures, including IT system upgrades and...

IEX Electricity Trade Volume Surges 16% in November

December 3, 2024 17:40

Indian Energy Exchange (IEX) electricity trade volume rose 16% year-on-year to 9,689 MU in November, driven by growth in Day-Ahead and Real-Time markets. Green Market also saw significant growth.

PM Surya Ghar Muft Bijli Yojana: 1.45 cr Registrations & 6.34 Lakh Installations

December 3, 2024 16:33

The PM Surya Ghar Muft Bijli Yojana has received 1.45 crore registrations and 6.34 lakh rooftop solar installations have been completed. The scheme aims for 1 crore installations by FY27.

ACME Sun Power Secures Rs 3,753 Cr Loan for Renewable Energy Projects

November 17, 2024 15:55

ACME Sun Power secures a Rs 3,753 crore term loan from REC Ltd. for the development of a 320-MW firm and dispatchable renewable energy (FDRE) project in collaboration with SJVN.

REC Hands Over ERES-XXXIX Power Transmission to Tata Power

November 14, 2024 20:42

REC Ltd's subsidiary, REC Power Development Consultancy, has handed over ERES-XXXIX Power Transmission Ltd to Tata Power Company Ltd. The project is targeted for implementation by December 2027.

Power Grid Acquires Rajasthan Transmission Project

November 11, 2024 20:15

Power Grid Corporation of India has acquired a transmission project in Rajasthan, securing it through a competitive bidding process. The project will facilitate power evacuation from the Rajasthan...

IEX Electricity Trade Surges 4% in October

November 5, 2024 17:47

Indian Energy Exchange (IEX) reports a 4% year-on-year increase in electricity trade volume to 9,642 MU in October, driven by strong growth in renewable energy certificates (RECs) and real-time...

REC Q2 Profit Up 7% to Rs 4,037 Cr, Loan Disbursement at Rs 47,303 Cr

October 26, 2024 17:42

REC Ltd's net profit rose 7% to Rs 4,037.72 crore in Q2 FY25, driven by higher income. Loan disbursement stood at Rs 47,303 crore, with Rs 5,946 crore allocated to renewable energy.

REC Subsidiary for Ratle HEP Power Evacuation

October 24, 2024 17:40

REC incorporates Ratle Kiru Power Transmission, a wholly-owned subsidiary, to handle power evacuation from the Ratle hydroelectric project.

Tata Power Wins Transmission Project from REC Power Development

October 17, 2024 11:04

Tata Power secures ERES-XXXIX Power Transmission Ltd from REC Power Development for a 35-year transmission service project in Odisha.

DVC Acquires Hiranmaye Energy for Rs 1,500cr

October 15, 2024 18:44

Damodar Valley Corporation (DVC) has acquired Hiranmaye Energy for Rs 1,500cr, adding 300 MW to its capacity. This acquisition marks DVC's first foray into the power sector through acquisition.

RECPDCL Hands Over Rajasthan-IV H-1 Power Transmission to Power Grid

October 15, 2024 16:44

RECPDCL has handed over Rajasthan-IV H-1 Power Transmission Ltd, a project SPV, to Power Grid Corp. The transmission project will be developed on a BOOT basis.

IEX Trade Volume Surges 21% to 11,370 MU in September

October 7, 2024 12:48

Indian Energy Exchange (IEX) witnessed a significant rise in trade volume, reaching 11,370 million units (MU) in September, driven by increased hydro and wind power generation.

REC Disburses Rs 90,955 Cr Loan in April-June FY25

October 5, 2024 19:32

REC, a state-owned power sector financing company, disbursed Rs 90,955 crore in loans during April-June FY25, with a 20.10% YoY increase. Green loans accounted for Rs 11,297 crore, a 92.68% rise.

REC Funds Rajasthan Power Projects: Rs 3 Lakh Crore Deal

October 1, 2024 16:59

REC signs a financing agreement with Rajasthan for Rs 3 lakh crore to support power and infrastructure projects over the next six years. Learn more about the deal.

REC Raises USD 500 Million via Green Bond

September 28, 2024 20:17

REC Ltd has raised USD 500 million through green dollar bonds to finance renewable energy projects. This is the first US dollar bond issuance from an Indian public sector enterprise in 2024.

REC Raises USD 500 Million via Global Notes

September 24, 2024 19:30

REC Ltd announces the issuance of USD 500 million in global notes under its USD 10 billion program. The funds will be used to finance eligible green projects, supporting sustainable development.

REC Pledges Rs 3 Lakh Cr Green Projects Loan by 2030

September 18, 2024 19:43

REC aims to increase its renewable energy loan book to over Rs 3 lakh crore by 2030, playing a key role in India's green energy transition. The company signed MoUs worth Rs 1.12 lakh crore for...

GUVNL Announces Green Financing Fund at RE-INVEST

September 18, 2024 19:25

GUVNL unveils a green financing fund at RE-INVEST, aiming to attract investors and developers for its 100 GW renewable energy target by 2030.

Sunsure Energy Secures Rs 10,000 Cr Loan for Green Energy

September 18, 2024 13:53

Sunsure Energy signs a Rs 10,000 crore loan agreement with REC for green energy projects, aimed at developing 3 GW of solar, wind, and hybrid energy. This partnership will accelerate India's...

Azure Power Prepays USD 310 Mn Green Bonds - Renewable Energy News

September 9, 2024 15:08

Azure Power announces prepayment of USD 310 million green bonds maturing in December 2024. The refinancing, underwritten by REC Limited, is backed by seven utility projects across India.

IEX Trade Volume Surges 36% in August, Hits 12,040 MU

September 3, 2024 19:10

Indian Energy Exchange (IEX) witnessed a significant 35.8% year-on-year rise in total trade volume to 12,040 million units (MU) in August. The increase was driven by a surge in renewable energy...

RECPDCL Hands Over Tumkur-II REZ Power Transmission to G R Infraprojects

September 3, 2024 19:03

RECPDCL has handed over the Tumkur-II REZ Power Transmission project to G R Infraprojects. The project involves establishing a pooling station and 27.2 km of 400 kV line in Karnataka.

Sterlite Power Acquires Khavda IV C Power Transmission

September 2, 2024 13:56

Sterlite Power acquires Khavda IV C Power Transmission Ltd, an SPV for evacuating renewable energy from Khavda RE park, to develop the transmission system for evacuating power from the potential...

Adani Acquires 7 GW Khavda Transmission Project - Rs 4,091 Cr Investment

September 2, 2024 12:49

Adani Energy Solutions has acquired the Khavda Phase IV Part-A transmission project, entailing an investment of Rs 4,091 crore. The project will evacuate 7 GW of renewable energy from Khavda RE...

RECPDCL Hands Over Power Transmission Projects

August 30, 2024 21:06

RECPDCL has handed over two power transmission projects to Adani Energy Solutions and Sterlite Grid 38 Ltd for renewable energy zone development in Gujarat.

Vadhvan Port: 12 Lakh Jobs, 76,200 Crore Investment - Sonowal

August 30, 2024 17:58

Union Minister Sonowal announces Vadhvan Port in Maharashtra will create 12 lakh jobs and generate Rs 76,200 crore investment. Learn more about the project's impact and future.

REC to Finance JNPA Projects with Rs 45,000 Cr

August 25, 2024 18:29

REC Ltd will provide up to Rs 45,000 crore to finance JNPA projects, including the development of Vadhavan Port. This MoU will strengthen infrastructure development in India.

JN Port to Boost Capacity to 10 Million TEUs by April 2025

August 22, 2024 20:31

Jawaharlal Nehru Port (JNPA) to increase container handling capacity to 10.4 million TEUs by April 2025, becoming the first 100% landlord port in India. The port also announced new infrastructure...

JN Port to Reach 10 Million TEUs Capacity: Sonowal

August 22, 2024 16:33

Jawaharlal Nehru Port (JNPA) is expanding its container handling capacity to 10 million TEUs, with the upcoming Vadhvan Port in Maharashtra expected to create 10 lakh jobs. The minister also...

REC Hands Over SPV to Apraava Energy for Rajasthan Renewable Energy Project

August 21, 2024 19:33

RECPDCL, a subsidiary of REC Ltd, has handed over a project specific SPV to Apraava Energy for the Rajasthan Renewable Energy Zone Ph-IV transmission project.

Power Grid Corp Acquires Rajasthan IV E Power Transmission

August 19, 2024 21:13

Power Grid Corporation of India has acquired Rajasthan IV E Power Transmission Ltd., a project SPV for establishing a new 765 kV substation in Rajasthan. The acquisition, made through a...

Haryana Leads in Electricity Reforms: HERC Chairman

August 18, 2024 13:12

Haryana Electricity Regulatory Commission (HERC) Chairman highlights the state's progress in electricity reforms, emphasizing consumer protection and efficient service delivery.

IEX Trade Volume Surges 56% in July 2024

August 5, 2024 10:43

Indian Energy Exchange (IEX) records a 56% rise in total trade volume in July 2024, reaching 13,250 MU. Renewable energy certificates (RECs) see a significant increase, while green electricity...

RECPDCL Hands Over NERGS-I Power Transmission Project to Techno Electric

July 30, 2024 18:48

REC Power Development and Consultancy Limited (RECPDCL) has awarded the NERGS-I Power Transmission project to Techno Electric & Engineering Company. The project involves the establishment of a new...

REC Q1 Net Profit Surges 16.57% to Rs 3,460 Cr, Loan Book Hits Rs 5.30 Lakh Cr

July 27, 2024 19:36

REC's consolidated net profit for Q1 FY25 jumped 16.57% to Rs 3,460 crore, driven by higher revenue. The company's loan book also expanded to Rs 5.30 lakh crore, indicating strong growth.

REC Q1 Profit Surges 16.57% to Rs 3,460.19 cr

July 27, 2024 15:41

REC's consolidated net profit for the June quarter rose 16.57% to Rs 3,460.19 crore, driven by higher revenues. The company also announced an interim dividend.

EESL Launches Retail Shops for Energy-Efficient Products

July 21, 2024 11:01

EESL is opening 'Urja Dakshta Dukan' retail shops across India to make energy-efficient products like LED lights, ACs, and fans more accessible.

Budget 2024: Clean Energy Investments to Get Boost, Experts Say

July 17, 2024 16:44

Experts predict the upcoming Indian budget will focus on promoting investments in clean energy with policy measures, VGF schemes, and incentives for the renewable energy sector.

REC Secures JPY 31.96 Billion Green Loan from Deutsche Bank

July 10, 2024 21:13

REC Ltd has received a JPY 31.96 billion green loan from Deutsche Bank's GIFT City branch to finance green energy projects in India, marking a significant step towards sustainable development.

Indian Energy Exchange Trade Volume Rises 19% in Q1 FY25

July 2, 2024 19:16

Indian Energy Exchange (IEX) reports a 19% increase in overall trade volume to 28,178 million units in the April-June period of FY25, driven by hot weather and increased electricity demand.

REC Loan Sanctions Surge 24% in Q1 FY25, Renewables Get Rs 40k Cr

July 1, 2024 12:24

REC Ltd's loan sanctions grew 24.17% to Rs 1.12 lakh crore in Q1 FY25, with Rs 39,655 crore allocated to renewable energy projects.

IEX Trade Volume Surges 29% in May: 10,633 MU

June 5, 2024 17:56

Indian Energy Exchange (IEX) saw a significant increase in overall trade volume in May 2024, reaching 10,633 million units (MU), driven by growth in electricity and renewable energy certificates.

REC Board Approves Foreign Borrowing Limit Increase to USD 24 Billion

May 31, 2024 19:35

REC Ltd has increased its foreign currency borrowing limit to USD 24 billion, while retaining its INR borrowing limit at Rs 6 lakh crore. The company also approved raising funds through private...

REC Hands Over SPVs to Power Grid, Techno Electric

May 30, 2024 19:27

REC's arm RECPDCL has handed over two project-specific SPVs, Khavda IV-E2 Power Transmission Ltd and NERES XVI Power Transmission Ltd, to Power Grid and Techno Electric respectively.

IREDA Plans FPO to Fund Renewable Energy Projects

May 21, 2024 18:10

IREDA, a state-owned finance firm, is considering a follow-on public offer (FPO) and perpetual debt to meet its future capital requirements for renewable energy projects. The company's loan...

Reliance Completes Sale of REC Solar Norway

May 16, 2024 12:44

Reliance Industries Ltd has completed the sale of REC Solar Norway AS to Elkem ASA for USD 22 million. The sale includes REC Norway's kerf-based polysilicon manufacturing operations.

IEX Q4 Profit Rises 9.5% to Rs 97 cr - Business News

May 16, 2024 10:34

Indian Energy Exchange (IEX) reported a 9.5% rise in Q4 FY24 profit after tax to Rs 97 cr, driven by higher income. Read more on IEX's financial performance.

Harsh Baweja Appointed Director Finance of REC Ltd

May 14, 2024 15:08

Harsh Baweja, a chartered accountant with 33 years of experience, has been appointed Director Finance of REC Ltd. His focus will be on securing low-cost borrowing, driving growth, and leading...

PSU Bank Stocks Plunge After RBI Tightens Project Finance Rules

May 6, 2024 18:38

PSU bank shares declined after the Reserve Bank of India proposed stricter rules for lending to projects under construction, impacting banks like PNB, Canara Bank, and Bank of Baroda.

REC to Establish Subsidiary in GIFT City - RBI Approval

May 5, 2024 18:57

REC Ltd receives RBI approval to set up a subsidiary in GIFT City, Gujarat, to engage in lending, investment, and other financial services. The move aims to diversify REC's portfolio and explore...

IEX Trade Volume Jumps 14% in April, Hits 9,044 Million Units

May 2, 2024 17:17

The Indian Energy Exchange (IEX) recorded a 14.1% rise in overall trade volume in April 2024, reaching 9,044 million units, driven by factors like increased sell liquidity and a balanced...

REC Q4 Profit Up 33%: Core Income, Provision Write-Back Drive Growth

April 30, 2024 19:28

REC reported a 33% rise in its Q4 net profit to Rs 4,079 crore, driven by strong core income and provision write-back. The company's revenue also grew 25% YoY.

REC Net Profit Surges 33% to Rs 4,079 Crore in Q4

April 30, 2024 14:19

REC Ltd reported a 33% increase in its net profit to Rs 4,079 crore in the March quarter, driven by higher income. The company's total income also rose significantly.

Green Hydrogen Fuel Cell Vessels Pilot in Varanasi - NW-I

April 26, 2024 18:22

Varanasi selected for green hydrogen fuel cell inland vessel pilot on National Waterways-I, aligning with Harit Nauka guidelines. Discussions underway for bunkering facilities.

REC Secures JPY 60.5 bn Green Loan for India Projects

April 25, 2024 19:36

REC, an Indian NBFC, has secured a JPY 60.5 bn green loan from Italian export credit agency SACE to finance green projects in India, marking a significant milestone in sustainable financing.

REC to Fund 624 MW Kiru Hydro Project in J&K - Rs 1,869 cr Loan

April 24, 2024 18:06

REC Ltd will provide a Rs 1,869 crore loan for the 624 MW Kiru Hydro Electric Project in Kishtwar, Jammu & Kashmir, developed by Chenab Valley Power Project Private Ltd.

Corporate Bond Placement Hits Record High in FY24

April 18, 2024 18:11

Corporate bond placement through private placement surged to a record Rs 9.98 lakh crore in FY24, driven by strong economic growth and credit demand.

REC Sanctions Record Rs 3.59 Lakh Crore Loan in FY24

April 8, 2024 14:30

REC, a state-owned NBFC, has sanctioned a record Rs 3.59 lakh crore in loans during FY24, with a significant focus on renewable energy projects. Learn more about the company's performance and loan...

Energy Trade Volume Hits Record High of 110 Billion Units in FY24: IEX

April 4, 2024 11:01

India's energy trading platform, IEX, reported an all-time high trade volume of 110 billion units in FY24, a growth of nearly 14% year-on-year. The exchange also witnessed a significant increase in...

IEX Energy Trade Volume Up 15.4% in February

March 5, 2024 10:55

Indian Energy Exchange (IEX) saw a 15.4% rise in energy trade volume in February 2024, reaching 9,462 million units. The average market clearing price was Rs 4.93 per unit, down 26% year-on-year.

NCLAT Dismisses BHEL's Pleas in Hiranmaye Energy Insolvency

March 4, 2024 21:14

The National Company Law Appellate Tribunal (NCLAT) dismissed BHEL's petitions challenging the insolvency proceedings against Hiranmaye Energy, formerly India Power Corp (Haldia), initiated by REC....

Shriram Finance Replaces UPL in Nifty 50: NSE Index Changes

February 28, 2024 22:27

Shriram Finance will replace UPL in the Nifty 50 index effective March 28, 2024. Other changes include additions and removals in Nifty Next 50, Nifty 100, and sectoral indices.

Tata Power Wins Rs 838 Crore Jalpura Khurja Power Transmission Project

February 16, 2024 18:19

Tata Power secures a Letter of Intent (LoI) from REC Power Development and Consultancy for the Jalpura Khurja Power Transmission project worth Rs 838 crore. The project will be developed on a BOOT...

RECPDCL Hands Over Pachora Power Transmission SPV to GR Infraprojects

February 15, 2024 19:38

RECPDCL, a subsidiary of REC Limited, has handed over the Pachora Power Transmission SPV to GR Infraprojects, the successful bidder in a tariff-based competitive bidding process for an interstate...

REC Funds Damodar Valley Corp's Tubed Coal Mines - Rs 588 Cr

February 14, 2024 21:36

REC has provided Rs 588 crore to Damodar Valley Corporation (DVC) for developing tubed coal mines in the Damodar Valley region. The agreement aims to strengthen infrastructure and energy projects.

Sterlite Power Secures Rs 2,400 Cr for Beawar Transmission Project

February 13, 2024 12:52

Sterlite Power has secured Rs 2,400 crore funding from RECPDCL for its Beawar transmission project in Rajasthan, a key part of the Green Energy Corridor.

Indian Energy Exchange Trade Volume Surges 26% in January

February 5, 2024 18:51

Indian Energy Exchange's total trade volume jumped 26% to 10,893 million units in January 2024, driven by strong performance in both the conventional and green power markets.

REC & NIIFL Partner for Renewable & Infra Financing

January 25, 2024 21:16

REC and National Investment & Infrastructure Fund (NIIFL) collaborate to finance renewable and large-scale infrastructure projects in India.

REC Shares Surge 8% After Strong Earnings

January 24, 2024 17:09

REC Ltd. shares jumped nearly 8% after reporting a 13.5% rise in profit for the December quarter, driven by higher revenues. Read more about the company's financial performance.

REC Ltd Shares Surge 7% on Strong Q3 Earnings

January 24, 2024 12:59

REC Ltd's shares rallied 7% after reporting a 13.5% rise in profit for the December quarter. The company's strong performance boosted investor confidence.

REC Q3 Profit Rises 13.5% to Rs 3,308.42 cr

January 23, 2024 17:37

REC Ltd's net profit surged 13.5% to Rs 3,308.42 crore in Q3 FY24 on higher revenues, while loan book grew by 21% to Rs 4.97 lakh crore. Read more.

REC Profit Surges 13.5% to Rs 3,308 cr in Q3

January 23, 2024 15:12

REC Ltd's net profit rose 13.5% to Rs 3,308.42 crore in Q3 FY24, driven by higher revenues. The company also approved the incorporation of a special purpose vehicle for transmission projects.

Reliance to Commission New Energy Giga Complex in 2024

January 21, 2024 15:38

Reliance Industries Ltd. to commission a new energy giga complex in Gujarat, India, in the second half of 2024, aiming to become a leader in the global renewable energy transition.

Load Shedding Penalty: India Aims for 24x7 Power

January 18, 2024 20:28

India's Power Minister warns of penalties for load shedding, aiming for 24x7 electricity supply and a developed nation status. Discoms urged to improve efficiency and ensure resource adequacy.

Corporates Raise Record Rs 9.58 Lakh Cr in 2023: Report

January 15, 2024 21:23

Indian corporates raised a record Rs 9.58 lakh crore from the market in 2023, a 26% increase from the previous year, according to a report. The surge is attributed to higher credit demand and...

Reliance Sells REC Solar Norway for $22 Million

January 15, 2024 17:03

Reliance Industries Ltd has sold REC Solar Norway AS to Elkem ASA for USD 22 million. The sale follows Reliance's 2021 acquisition of REC Solar Holdings, part of Mukesh Ambani's green energy plans.

REC Raises Rs 3,500 Crore via Yen-Denominated Green Bonds

January 12, 2024 20:50

REC Ltd raises JPY 61.1 billion (about Rs 3,500 crore) through green bond issuance, marking the first Yen Green Bond by an Indian PSU. Learn more about the green financing and REC's commitment...

REC to Raise Rs 3,500 Crore via Green Bonds

January 12, 2024 15:23

REC Ltd will raise 61.1 billion yens (about Rs 3,500 crore) through issuance of green bonds, listed on India INX and NSE IFSC, to finance green projects.

MoRTH to Revamp BOT Project Document for Highway Investments

January 8, 2024 21:19

The Ministry of Road Transport and Highways (MoRTH) is finalizing a modified BOT document to attract private investments in highway construction. The project aims to boost highway infrastructure...

MoRTH to Launch New BOT Project for Highway Investments

January 8, 2024 20:27

India's Ministry of Road Transport and Highways (MoRTH) is set to release a modified BOT project document to attract private investment in the highways sector, with a focus on high-speed corridors...

Serentica Renewables Secures Rs 3,500 cr Loan for 530 MW Project

January 8, 2024 11:55

Serentica Renewables has secured a Rs 3,500 crore loan from six banks to fund a 530 MW round-the-clock renewable energy project in India. The project will provide clean energy to Hindustan Zinc,...

RECPDCL & Gujarat Govt Partner for Rs 2,094 Crore Smart Metering Projects

January 4, 2024 19:59

RECPDCL signs an MoU with Gujarat government for smart metering projects worth Rs 2,094 crore under the RDSS scheme. The project will be implemented in PGVCL, a subsidiary of GUVNL.

REC & Bank of Baroda Partner for Power & Infrastructure Financing

January 4, 2024 16:17

REC and Bank of Baroda have joined forces to offer loans for power, infrastructure, and logistics projects in India, aiming to boost economic growth and access to essential services.

IndiGrid Wins 2 Transmission Projects: Over Rs 1,000 Crore Investment

January 2, 2024 20:44

IndiGrid, India's first listed power sector InvIT, has secured two interstate transmission projects worth over Rs 1,000 crore, involving construction of greenfield transmission lines.

Techno Electric Bags Rs 1,750 Crore Smart Metering & Transmission Projects

December 29, 2023 11:56

Techno Electric & Engineering Company has secured new orders for smart metering and transmission projects worth Rs 1,750 crore, including AMI for 7.27 lakh smart meters in Kashmir.

Reliance Industries' Consolidated vs. Standalone Profit Gap Widens

December 25, 2023 14:14

Reliance Industries' consolidated net profit has surged, driven by growth in its retail and telecom businesses, resulting in a significant increase in the gap between standalone and consolidated...

India's Disinvestment Target Missed Again in FY24

December 25, 2023 11:04

India's disinvestment target for FY24 is likely to be missed again as the government prioritizes minority stake sales over outright privatization ahead of general elections.

India to Add 88 GW Thermal Capacity: Power Minister

December 22, 2023 20:30

India plans to install 88 GW of additional thermal power capacity to meet rising demand, reaching 350,670 MW by 2030-31. The government is taking steps to address the increased need for electricity.

Suzlon Group Secures Working Capital from REC for Renewable Energy Projects

December 19, 2023 13:44

Suzlon Group has secured working capital facilities from REC Ltd to support its renewable energy projects, enabling faster ramp-up of operations and improved capacity utilization.

REC Secures 200 Million Euro Loan from KfW for India's Power Sector

December 8, 2023 19:22

REC, a Maharatna PSU, signs a 200 million euro loan with KfW to strengthen India's power distribution infrastructure under the RDSS scheme.

IEX Trade Volume Jumps 18% to 9,136 MU in November

December 4, 2023 18:19

Indian Energy Exchange (IEX) reports 17.5% growth in trade volume to 9,136 million units in November 2023, driven by increased renewable energy certificates and real-time electricity market activity.

REC Loan Disbursements Hit Rs 1 Lakh Crore - First Time in a Year

December 1, 2023 15:58

REC, a state-owned finance firm, has surpassed Rs 1 lakh crore in loan disbursements for the first time in a year, exceeding last year's figure of Rs 46,075 crore. The company provides financing...

REC Ltd. Increases Borrowing Limit to Rs 1.5 Lakh Cr for FY24

November 30, 2023 14:57

REC Ltd. has raised its borrowing limit for FY24 to Rs 1.5 lakh crore from Rs 1.2 lakh crore. The company also approved an investment in Hindustan Power Exchange Ltd. (HPX).

CIL Extends Debasish Nanda's Term as Director, Business Development

November 8, 2023 12:37

Coal India Ltd (CIL) has extended Debasish Nanda's term as Director, Business Development for six months. Nanda previously worked as Executive Director (Gas) at Indian Oil.

REC Urged to Invest in Coal Sector, Finance Mines

November 2, 2023 16:56

India's coal ministry requests REC, a state-owned financial firm, to invest in the coal sector and provide financing to operationalize commercial mines, aiming to meet growing domestic demand.

Indian Energy Exchange Profit Jumps 21% to Rs 86 Cr in Q2

November 2, 2023 16:50

Indian Energy Exchange (IEX) reported a 21% rise in net profit to Rs 86.46 crore in the September quarter, driven by higher revenues and trading volumes.

Energy Storage Funding Drops 31% to $15.2 Billion: Mercom

November 2, 2023 16:38

Global corporate funding in energy storage fell 31% to $15.2 billion in the first nine months of 2023, according to Mercom Capital, despite a rise in Q3.

REC Net Profit Surges 39% to Rs 3,790 Cr in Q2

November 1, 2023 15:20

REC Ltd. reports a 39% rise in net profit to Rs 3,789.90 crore in the September quarter driven by higher revenues. The company also announced a second interim dividend of Rs 3.50 per share.

India Fruit Exports Surge 47% in 5 Years: Govt

INOX Air Products Launches First Green Hydrogen Plant in India

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