Business News | REC Limited Disburses Rs90,955 Cr Loan in H1 FY25; Green Loans Surge by 92.68 Pc
Get latest articles and stories on Business at LatestLY. It has achieved significant growth in its loan disbursements for the half-year ended September 30. In Q2 FY24-25, REC disbursed Rs47,303 crore in loans, representing a 13.71 per cent YoY increase compared to Rs41,598 crore in Q2 FY23-24.
New Delhi [India], October 5 (ANI): REC Limited, a Maharatna CPSE under the Ministry of Power and a leading non-banking financial company (NBFC), disbursed loans totalling Rs90,955 crores in H1 FY25, marking a 20.10 per cent year-on-year (YoY) increase.
Notably, renewable energy loans surged by 92.68 per cent YoY to Rs11,297 crore, reflecting REC's growing focus on green energy financing.
It has achieved significant growth in its loan disbursements for the half-year ended September 30. In Q2 FY24-25, REC disbursed Rs47,303 crore in loans, representing a 13.71 per cent YoY increase compared to Rs41,598 crore in Q2 FY23-24.
Renewable energy loans in Q2 aggregated Rs5,946 crore, a significant 37.35 per cent rise from the previous year. The share of renewable energy in total disbursements also increased, accounting for 13 per cent in Q2 FY24-25, up from 10 per cent in Q2 FY23-24.
REC Limited continues to play a pivotal role in financing India's power and infrastructure sectors, including new technologies like electric vehicles, battery storage, and green hydrogen projects.
With a loan book of Rs5.30 lakh crore and a net worth of Rs72,351 crore as of June 30, 2024, REC remains a key player in supporting India's infrastructure growth and sustainable energy transition.
The company's strategic contributions to flagship government schemes like SAUBHAGYA, DDUGJY, and the Revamped Distribution Sector Scheme (RDSS) underscore its commitment to strengthening India's power sector and last-mile connectivity. (ANI)
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