REC and NIIFL to Join Hands

  • REC Limited has signed a Memorandum of Understanding (MoU) with the National Investment and Infrastructure Fund Limited (NIIFL).
  • To collaborate on a suite of funding solutions for Renewable Energy Projects and large-scale infrastructure projects in India.

About REC Limited

  • It is a ‘Maharatna’ CPSE under the Ministry of Power.
  • It is registered with RBI as a Non-Banking Finance Company (NBFC), and Infrastructure Finance Company (IFC).
  • It is financing the entire Power- Infrastructure sector comprising Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage, Pumped Storage projects, Green Hydrogen and Green Ammonia projects.
  • It has diversified into the Non-Power Infrastructure sector comprising Roads & Expressways, Metro Rail, Airports, IT Communication, Social and Commercial Infrastructure (Educational Institutions, Hospitals), Ports and Electro-Mechanical (E&M) works.
  • It has been made the nodal agency for certain States and Union Territories for the Revamped Distribution Sector Scheme (RDSS).
Posted in Current Affairs.