REC Limited has secured JPY 31.96 billion (equivalent to $200 million) in green loan to fund eligible green projects in India. This green loan marks the first successful collaboration between an Indian government entity and Deutsche Bank AG’s GIFT City branch. This facility also represents one of the first JPY-denominated green loan transactions for Deutsche Bank AG, GIFT City branch.
In May 2024, REC Limited received a no objection certificate from the Reserve Bank of India, for setting up a wholly-owned subsidiary in International Financial Services Centre, GIFT city, Gandhinagar, Gujarat.
In April 2024, REC Limited secured green loan totaling JPY 60.536 billion from SACE to support eligible green projects across the country. In the same month, REC Limited and Chenab Valley Power Project Private Limited entered into an agreement to provide financial support through a term loan of Rs 18.69 billion.
