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REC Ltd has secured green loan totaling JPY 60.536 billion (approximately Rs 3,200 crore) designated for funding qualified clean energy ventures. This financing option enjoys an 80% guarantee from the Italian export credit agency, SACE.
REC, a Maharatna company, provides long-term loans and other finance to the power sector. The firm, which has also diversified into areas like roads, metro rails, airports and IT, had a loan book of Rs 4.54 lakh crore as of the June 2023.