REC Limited, formerly Rural Electrification Corporation Limited is a subsidiary of Power Finance Corporation Limited which is in turn under the ownership of Ministry of Power, Government of India.
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15 Facts About REC Limited
2.
REC Limited is a Maharatna Company functioning under the purview of the Ministry of Power.
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3.
REC Limited is listed on both National Stock Exchange and Bombay Stock Exchange.
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4.
REC Limited has tied up a line of credit for €100M with KfW under Indo-German Development Cooperation for financing renewable energy power projects at concessional rates of interest.
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5.
GARV APP is an application developed and maintained by REC Limited, incepted to aid the Grameen Vidyutikaran Mission running under DDUGJY .
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REC Limited was set up in July 1969, in the backdrop of a critical drought situation facing India in the late sixties.
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8.
REC Limited provided finance to accelerate the pace of rural electrification in the overall context of planned programmes for increased agricultural production.
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9.
REC Limited was identified as one of the two GoI-appointed nodal agencies for transferring identified projects to private developers.
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10.
In June 2002, the mandate of REC Limited was expanded to include financing of all generation projects without limit on size or location.
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11.
Today, financing of Generation projects has become a major thrust-area of operations for REC Limited, attracting majority of its private sector borrowers.
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12.
Since 2005, REC Limited has been appointed nodal agency by Ministry of Power [1] Archived 15 July 2013 at the Wayback Machine for Government of India scheme Rajiv Gandhi Grameen Vidyutikaran Yojana aimed at building rural electricity infrastructure and household electrification towards the National Common Minimum Programme goal of access to electricity for all.
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13.
The REC Limited is the nodal agency under the newly launched SAUBHAGYA Yojana by the present Modi government.
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14.
In 1979, REC Limited established a national training institute in Hyderabad for the development of techno-managerial skill and efficiency in State Electricity Boards, Distribution Companies, Rural Electric Cooperatives and other Power Utilities, and to conduct in-house training programmes for REC Limited's employees.
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15.
REC Limited is an equity partner in Indian Energy Exchange [2], India's first nationwide, automated, and online electricity trading platform, among other reputed investors like IDFC, Adani, Reliance Energy, Lanco and Tata Power.
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