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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 Ltd's 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 REC's 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.