REC Limited’s Post

The World Bank has approved the second round of $1.5 billion loan to help #India push its #lowcarbon #energy development. The funds will help promote the #development of a vibrant market for #greenhydrogen, continue to scale up #renewableenergy, and stimulate finance for low-carbon energy #investments. Read more - https://lnkd.in/gNchQC_G #electricity #hydrogen #sustainability

For India to achieve its #netzero target by 2070, a comprehensive transition to #renewableenergy is imperative. This necessitates a multifaceted approach, encompassing #policy frameworks, #investment strategies and #technological advancements, say Institute for Energy Economics and Financial Analysis (IEEFA)'s Shantanu Srivastava, CFA and Tanya Rana via Asian Power Magazine. India is a global leader in renewable energy, but achieving its ambitious net-zero target by #2070 requires more financial muscle. Banks and other lenders (#NBFCs) give loans to brand new renewable energy projects while they are being built. The lack of long-term loans from domestic banks for renewable projects means that projects are refinanced through capital markets after construction and it exposes them to market risks. Here's the good news: the Indian renewable energy sector is a strong candidate for long-term loans due to its low credit risk compared to other infrastructure assets such as road and #thermalpower. ◼The Challenge: - Lack of long-term financing options from domestic banks. ◼The Solution: - Encourage banks to adopt long-term funding models, like the SBI's issuance of 15-year #bonds. ◼Unlocking Capital: Develop solutions to attract foreign capital and institutional investors, such as: - Subsidising currency hedging costs to attract foreign investors. - Creating a state-owned renewable energy infrastructure investment trust (InvIT) to attract domestic investors. ◼The Call to Action: - The government needs to make it easier for banks and investors to give loans to renewable energy projects. This will speed up the development of renewable energy in India. Read the full article: https://lnkd.in/g3A8F9Hm

𝐈𝐑𝐄𝐃𝐀'𝐬 𝐒𝐭𝐫𝐨𝐧𝐠 𝐇𝟏 𝐏𝐞𝐫𝐟𝐨𝐫𝐦𝐚𝐧𝐜𝐞: 𝟑𝟎𝟑% 𝐆𝐫𝐨𝐰𝐭𝐡 𝐢𝐧 𝐋𝐨𝐚𝐧 𝐒𝐚𝐧𝐜𝐭𝐢𝐨𝐧𝐬, 𝟓𝟔% 𝐑𝐢𝐬𝐞 𝐢𝐧 𝐃𝐢𝐬𝐛𝐮𝐫𝐬𝐞𝐦𝐞𝐧𝐭𝐬 Indian Renewable Energy Development Agency Limited (IREDA) has reported a remarkable performance in the first half of FY 2024-25. As per provisional figures up to September 30, 2024, IREDA has registered an impressive 303% growth in loan sanctions, surging to ₹17,860 crore compared to ₹4,437 crore during the same period in FY 2023-24. The company’s loan disbursements also saw significant growth, increasing by 56% to ₹9,787 crore, compared to ₹6,273 crore as of September 30, 2023. Also, the loan book outstanding stood at ₹64,500 crore, a growth of 36% from ₹47,514 crore in the previous year. Commenting on the performance, Shri Pradip Kumar Das, CMD, IREDA, said, “This exceptional growth underscores our firm commitment to driving India’s renewable energy goals. IREDA’s strong financial results highlight the increasing demand for clean energy financing and our dedication to supporting the green energy transition. By announcing these provisional figures on the last day of the first half of the financial year, we continue to uphold the highest standards of corporate governance. We extend our gratitude to our investors, stakeholders, and customers for their trust and partnership, which have been instrumental in achieving this milestone.” #IREDA #RenewableEnergy #Financing #CleanEnergy Ministry of New and Renewable Energy (MNRE)

Renewables energy sector cannot get a loan note than Rs 30 cr! At subsidized rate! Let me explain you the whole story! The Reserve Bank of India (RBI) has a list of priority sectors for lending, which includes sectors that require significant capital but have uncertain profitability. These sectors include agriculture, education, and renewable energy. Under this scheme, businesses in these sectors can obtain loans at lower interest rates, providing some relief to them. The renewable energy sector is one such sector that requires huge capital and has uncertain profitability. While the RBI has supported this sector, it has also imposed a lending limit. This limit is set at 30 crore rupees. Industry experts argue that 30 crore rupees is not sufficient to implement large projects. Currently, there are budget expectations to either increase this limit to a reasonable amount or to make it unlimited. After all, India has a target to achieve zero carbon emissions by 2070! What are your budget expectations? Please let me know in the comments! Well, I have a community for finance content writer where I am planning to share weekly 8 times financial content writing basics! If you love to write for investment planners, tax advisors, or even fintech brands, this could be the best place for you! #budget2024 #budgetexpectations #renewableenergy

Transmission and distribution equipment constitute a 40% share of #NewIndia’s #capitalgoods market, strengthening the country’s energy distribution infrastructure. Know more: https://lnkd.in/f4PWJJX #InvestInIndia #InvestIndia #Transmission NITI Aayog Department for Promotion of Industry and Internal Trade Ministry of Commerce and Industry, Government of India

Meet a man who reduces his company's debt by 80% Anil Ambani- MD and Chairman of Reliance Group Anil Ambani's company's value goes up by Rs 24,000 crore Anil Ambani had a noteworthy month, as Reliance Power became debt-free, and Reliance Infra reduced its debt by 80%. Anil Ambani saw a remarkable rise in fortunes as the stock prices of his companies, Reliance Power Limited and Reliance Infrastructure, surged even amid the market crash. Reliance Power's stock price jumped from Rs 36 to Rs 53.64 in just 10 days, boosting the company's value by over Rs 4,000 crore. Similarly, Reliance Capital | Reliance Group's market capitalization grew from Rs 16,000 crore to Rs 20,000 crore. This financial restructuring led to a surge in investor interest and an influx of new orders for both companies. Furthermore, during a key board meeting, the company approved an Employee Stock Option Scheme (ESOS) in line with SEBI regulations. Notable equity investors, including Sanjay Dangi and Sanjay Kothari, are set to invest Rs 925 crore in Reliance Power Limited, which recently secured a project to harness 1,270 MW of solar and hydropower in Bhutan. Reliance Power Limited also announced a special share issue of 46.20 crore shares worth Rs 1,524.60 crore, aimed at strengthening its operations in renewable energy. Anil Ambani's journe teach us that time changes for everyone the only thing we need to do is be consistent and doign hardwork for our goals and dreams. LinkedIn LinkedIn News India LinkedIn Guide to Creating #india #business #news

Transmission and distribution equipment constitute a 40% share of #NewIndia’s #capitalgoods market, strengthening the country’s energy distribution infrastructure. Know more: https://lnkd.in/f4PWJJX #InvestInIndia #InvestIndia #Transmission Ministry of Commerce and Industry, Government of India Department for Promotion of Industry and Internal Trade NITI Aayog

Mufin Green Finance secured an $18M, 10-year loan from the U.S. DFC to boost EV financing and expand into solar. With ₹1,500 crore given out in EV loans and ₹800 crore in active loans, Mufin aims to strengthen India's green mobility and energy sectors. #ev #news

IREDA Ltd. Reports Impressive 36% Net Profit Surge in Q2 FY25. The Indian Renewable Energy Development Agency (IREDA) has achieved remarkable growth, with a 36.18% increase in net profit for Q2 FY25, totaling ₹387.75 crore compared to ₹284.7 crore last year. Key Highlights: ➡️ Revenue from operations: Up 38.5% to ₹1,630.38 crore. ➡️ Loan book: Expanded to ₹64,564.36 crore, a significant rise from ₹47,514.48 crore in Q2 FY24. ➡️ Net NPA reduced: Improved to 1.04% from 1.65% year-on-year. ➡️Loan sanctions: Jumped to ₹8,723.78 crore. Pradip Kumar Das, Chairman and Managing Director, emphasized IREDA's commitment to supporting India’s renewable energy initiatives, showcasing substantial growth in green financing. Looking forward, IREDA is set to enhance its impact with a newly approved wholly-owned subsidiary focused on retail businesses in renewable energy. #BFSI #FEBFSI #ModernBFSI #IREDA #RenewableEnergy #GreenFinance #SustainableGrowth #Investment #Finance #NetProfit #CleanEnergy Ministry of New and Renewable Energy (MNRE) | Solar Energy Corporation of India Limited | National Renewable Energy Laboratory | The World Bank | Green Climate Fund | Tanya Krishna | Sumana Sarkar| Sakshi Kuchroo | E Kumar Sharma | Roshun Povaiah | Financial Express (India)

Transmission and distribution equipment constitute a 40% share of #NewIndia’s #capitalgoods market, strengthening the country’s energy distribution infrastructure. Know more: https://lnkd.in/f4PWJJX #InvestInIndia #InvestIndia #Transmission Department for Promotion of Industry and Internal Trade Ministry of Commerce and Industry, Government of India NITI Aayog