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Web Exclusive | August 2018

REC inks 200 million Euro deal with KfW

State-owned power sector financier REC has signed a 200 million Euro loan with KfW in Frankfurt. Under the Indo-German development cooperation, this is REC’s fourth line of credit. REC plans on utilising the sanctioned loan amount for financing renewable energy projects in India. The pact was signed in the presence of Dr AK Verma, Joint Secretary, Ministry of Power and Pratibha Parkar, the Consul General of India by Dr PV Ramesh, CMD, REC and Roland Siller, Member of the Management Committee- Europe and Asia. This partnership of REC with the German bank promises sustainable development. “This is yet another step towards promoting the renewable energy in India after having more than tripled our financing in renewable sector last year,” said Dr PV Ramesh, CMD, REC.
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