Newsbytes
  • India
  • Business
  • World
  • Politics
  • Sports
  • Science
  • Entertainment
  • Auto
  • Lifestyle
  • Inspirational
  • Career
  • Bengaluru
  • Delhi
  • Mumbai
  • Videos
  • Find Cricket Statistics
Hindi
More
Newsbytes
Hindi
Newsbytes
User Placeholder

Hi,

Logout


India
Business
World
Politics
Sports
Science
Entertainment
Auto
Lifestyle
Inspirational
Career
Bengaluru
Delhi
Mumbai
Videos
Find Cricket Statistics

More Links
  • Videos

Download Android App

Follow us on
  • Facebook
  • Twitter
  • Linkedin
  • Youtube
 
Home / News / India News / Borrowing money for green projects becomes easier
  • India

    Borrowing money for green projects becomes easier

    Mansi Motwani
    Written by
    Mansi Motwani
    Mail
    Last updated on Jun 14, 2016, 06:31 pm
    Borrowing money for green projects becomes easier
  • The conventional thermal and hydropower sectors in India have no projects queued up in pipeline.

    This has made loans easier and cheaper, providing a thrust to the renewable energy sector.

    Backing the power sector, Rural Electrification Corporation (REC) and Power Finance Corporation (PFC) will offer attractive terms to renewable projects.

    Interest rates for loans on renewable energy projects will vary between 10.5% and 11.5%.

  • In this article
    Rural Electrification Corporation Ltd Power Finance Corporation Ltd. Borrowing money for green projects becomes easier Decrease in lending rates Favouring the Green Sector Helping renewable energy projects
  • REC

    Rural Electrification Corporation Ltd

    Rural Electrification Corporation Ltd
    Credits:
  • Rural Electrification Corporation Limited (REC) is a leading public Infrastructure Finance Company in India's power sector.

    Financing and promoting rural electrification projects across India, it's headquarters are based in Delhi.

    It's beneficiaries include Central/State Sector Power Utilities, State Electricity Boards, Rural Electric Cooperatives, NGOs and Private Power Developers.

    It is listed on both the National Stock Exchange and Bombay Stock Exchange.

  • PFC

    Power Finance Corporation Ltd.

    Power Finance Corporation Ltd.
    Credits:
  • Power Finance Corporation Ltd, established in 1986, is an Indian financial institution, the back bone of Indian Power Sector.

    It was initially wholly owned by the Government of India and later issued an Initial Public Offer (IPO) in 2007.

    Listed on the NSE and the BSE, it was awarded the KPMG-Infrastructure Today Award in 2008 for it's contribution to the power sector's progress.

  • 15 Jun 2016

    Borrowing money for green projects becomes easier

    Borrowing money for green projects becomes easier
  • The conventional thermal and hydropower sectors in India have no projects queued up in pipeline.

    This has made loans easier and cheaper, providing a thrust to the renewable energy sector.

    Backing the power sector, Rural Electrification Corporation (REC) and Power Finance Corporation (PFC) will offer attractive terms to renewable projects.

    Interest rates for loans on renewable energy projects will vary between 10.5% and 11.5%.

  • Information

    Decrease in lending rates

  • The lending rates to renewable energy projects have come down to 10.5% - 11.5% from 13.5% in 2010-11. Interest rates on loans to conventional and hydropower projects stand higher at 11.75% - 13.40%.

  • The Plans

    Favouring the Green Sector

    Favouring the Green Sector
  • REC is considering raising the sole funding limit for wind and solar plants to Rs.250 cr per project from the present Rs.200 cr.

    Repayment period of loans for these projects has been increased to 15 years from 10 years.

    The moratorium period has been extended from six months to one year from the project's commercial date of operation.

    Requirements for collateral security are scrapped.

  • Information

    Helping renewable energy projects

  • Last financial year, REC sanctioned Rs.2,965 cr to renewable energy projects, while PFC sanctioned Rs.1,900 cr. REC was awarded by the renewable energy ministry for it's appreciable performance in financing of renewable energy projects in 2015-16.

Latest News
  • Coronavirus: India's tally reaches 11.11 million with 15K+ new cases
    Coronavirus: India's tally reaches 11.11 million with 15K+ new cases
    India
  • #HealthBytes: Carpal tunnel syndrome - its causes, symptoms, and prevention
    #HealthBytes: Carpal tunnel syndrome - its causes, symptoms, and prevention
    Lifestyle
  • Premier League, Chelsea 0-0 Manchester United: Records broken
    Premier League, Chelsea 0-0 Manchester United: Records broken
    Sports
  • Will Smith's new docuseries harps on America's birth of citizenship
    Will Smith's new docuseries harps on America's birth of citizenship
    Entertainment
  • #HealthBytes: A beginner's guide to working out at home
    #HealthBytes: A beginner's guide to working out at home
    Lifestyle
Related Timelines
  • #LockdownRelaxation: Industries which will be operational from April 20
    #LockdownRelaxation: Industries which will be operational from April 20
    Business
Trending Topics
ISRO Vaccine Farmers Protest
Next News Article
Share
Cancel

Want to share it with your friends too?

Facebook Whatsapp Twitter Linkedin
Copied

Love India news?

Subscribe to stay updated.

India Thumbnail
India News Business News World News Politics News Sports News Science News Entertainment News Auto News Lifestyle News Inspirational News
Career News Bengaluru News Delhi News Mumbai News Bharti Airtel Mukesh Ambani Indian Premier League Samsung Virat Kohli Rohit Sharma
Cricket News YouTube Hollywood News WhatsApp Bollywood News ISRO Yoga Honda Batman Football News
BMW Vaccine Reliance Jio OPPO Food News, Healthy Recipes Royal Challengers Bangalore Toyota Fashion Tips Farmers Protest Mohammed Bin Salman
Mercedes Europa League Isha Ambani India Vs England Cricket OnePlus Mobiles Android TV Smart TV Marvel Comics Avengers Neha Kakkar
Premier League Big Bang Theory X-Men TATA
About Us Privacy Policy Terms & Conditions Contact Us News Reviews News Archive Topics Archive Find Cricket Statistics
Follow us on
Facebook Twitter Linkedin Youtube
All rights reserved © NewsBytes 2021