REC, PFC & IREDA Organize Foreign Currency Fund Raising Meet

Power sector major lenders REC Ltd, Power Finance Corporation Ltd (PFC) and Indian Renewable Energy Development Agency Ltd (IREDA) have jointly organized the foreign currency fund raising meeting for the energy transition in the country recently.

During the meeting, the senior officials from KfW, JICA, NDB, World Bank, ADB, EIB were present to accelerate the renewable energy and upcoming energy funding requirements of the country.

REC Ltd was formerly known as Rural Electrification Corporation Ltd and is a subsidiary of PFC which in turn is under the ownership of the Ministry of Power, Government of India. It finances and promotes power projects across the country.

IREDA is a Mini Ratna Government of India Enterprise under the administrative control of the Ministry of New and Renewable Energy (MNRE). It is a public limited government company established as a non-banking financial institution in 1987 engaged in promoting, developing and extending financial assistance for setting up projects relating to new and renewable sources of energy and energy efficiency/conservation.