REC disburses ₹90,955 crore in H1 FY25

REC Limited reports a substantial 20.10 per cent increase in total loan disbursements, reaching ₹90,955 crore for H1 FY25. Renewable energy loans soar by 92.68 per cent, emphasising the company’s dedication to green energy initiatives.

REC Limited, a Maharatna CPSE under the Ministry of Power and a prominent non-banking financial company (NBFC), has disbursed loans totalling ₹90,955 crores for the half-year ending 30 September 2024, reflecting a year-on-year increase of 20.10 pe. The volume of loans dedicated to renewable energy surged by 92.68 per cent year-on-year, reaching ₹11,297 crores.

In the second quarter of FY24-25, REC disbursed loans amounting to ₹47,303 crore, marking a 13.71 per cent increase compared to ₹41,598 crore in the same quarter of the previous fiscal year. Of this total, loans for renewable energy projects totalled ₹5,946 crore, a significant rise of 37.35 per cent from the previous year.

Renewable energy loans accounted for 13 per cent of total disbursements in Q2 FY24-25, up from 10 per cent in Q2 FY23-24.

REC Limited has achieved notable growth in its loan disbursements for the half-year ended 30 September. The company’s ongoing focus on financing green energy projects is evident in the substantial increase in renewable energy loans.

With a loan book of ₹5.30 lakh crore and a net worth of ₹72,351 crore as of 30 June 2024, REC plays a crucial role in supporting India’s infrastructure development and the transition to sustainable energy. The company is actively involved in financing new technologies, including electric vehicles, battery storage, and green hydrogen initiatives.

Furthermore, REC’s strategic contributions to key government schemes such as SAUBHAGYA, DDUGJY, and the Revamped Distribution Sector Scheme (RDSS) demonstrate its commitment to enhancing India’s power sector and improving last-mile connectivity.