Page 2 - Rec Ltd News Today

REC Ltd approves Rs 1.20 lakh crore line of credit for public sector power companies implementing rooftop solar projects under Pradhanmantri Suryodaya Yojana. The company to be project implementation agency for the rooftop solar project. Three segments covered: households, commercial/industrial, and government buildings. Government aims for 40 GW rooftop solar capacity.

REC said the latest scheme for households announced by PM Modi on January 22 would cover at least 10 GW of its 40 GW target of rooftop solar installations by 2026

The Nifty future closed positive with gains of 0.88% at 22140 levels on Monday. India VIX was up by 5.27% from 13.10 to 13.79 levels. Volatility was slightly on the rise and created momentum at lifetime high zones.

REC Ltd, a state-owned company in India, has raised JPY 61.1 billion (about Rs 3,500 crore) through green bonds. The issuance includes 5-year, 5.25-year, and 10-year bonds under its USD 10 billion Global Medium Term Notes Programme. This marks REC Ltds eleventh venture into the international bond market and the first Yen Green Bond issuance by any Indian PSU. The notes will be used to finance eligible green projects, aligning with RECs commitment to promoting green and clean energy.

JSW Energy has proposed to top a bid by Adani Power for a thermal power plant in central India, as India seeks to boost investment in coal-fired power. The 1,980-megawatt plant is in insolvency proceedings, and the power minister called for more private investment to meet rising electricity demand, a report said.

The Nifty future closed negative with losses of 1.03% at 21569 levels on Monday. India VIX was up by 6.57% from 12.63 to 13.46 levels. Volatility rose after the cool off in the last week and awakened the bears at crucial support zones.

A consortium of three international banks (Rabobank, MUFG Bank, Societe Generale) and three Indian lenders (YES Bank, Export-Import Bank of India, India Infrastructure Finance Company) have structured the loan for Serentica. Rabobank acted as the sole structuring bank for this loan facility. Tenure of the ECB facility is seven years, and the interest rate is 6.25%.

These projects include multi-modal logistics hub projects, rail infrastructure projects, road, port, and metro projects bring developed by RVNL

GI Hydro, which operates 110 mw hydro power projects in Sikkim, will use the proceeds to repay existing lenders, including REC Ltd and Edelweiss Asset Reconstruction Company, among others, the people said. The company had defaulted on loans in 2016 to the existing lenders and has proposed to repay their entire dues.

GI Hydro, which operates 110 mw hydro power projects in Sikkim, will use the proceeds to repay existing lenders, including REC Ltd and Edelweiss Asset Reconstruction Company, among others, the people said. The company had defaulted on loans in 2016 to the existing lenders and has proposed to repay their entire dues.