Issuer Overview
REC Limited, formerly Rural Electrification Corporation Limited, is a public Infrastructure Finance Company in India’s power sector. The company is a Public Sector Undertaking and finances and promotes power projects across India. The company provides loans to Central/State Sector Power Utilities in the country, State Electricity Boards, Rural Electric Cooperatives, NGOs and Private Power Developers.
Issuer Highlights
- REC was established in 1969 to reduce the dependency of agriculture on monsoons by energizing agricultural pump-sets for optimized irrigation
- They have also ventured into providing financial assistance to the power sector in all segments, be it Generation, Transmission or Distribution