REC Secures EUR 200M Loan from KfW to Bolster Distribution Infrastructure
As the nodal agency for implementing the RDSS scheme, REC aims to drive operational efficiencies and financial sustainability for DISCOMs.
December 11, 2023. By Abha Rustagi
This move underscores REC's steadfast commitment to enhancing the distribution infrastructure of DISCOMs in alignment with the Revamped Distribution Sector Scheme (RDSS) of the Government of India.
As the nodal agency for implementing the RDSS scheme, REC aims to drive operational efficiencies and financial sustainability for DISCOMs. The RDSS scheme provides result-linked financial assistance to DISCOMs, strengthening the supply infrastructure based on meeting pre-qualifying criteria and achieving essential benchmarks.
The signing event was attended by Carolin Gassner, Director (South Asia), KfW; Wolf Muth, Country Director (India), KfW; and Dr. Juergen Welschof, Head of the Division from KfW, along with officials from the German Embassy and saw the participation of REC representatives, including T.S.C. Bosh, Executive Director (BDM, I&L), Valli Natarajan, Executive Director (SOP), and Mr. Saurabh Rastogi, CGM (BDM).
T.S.C. Bosh, Executive Director (BDM, I&L), emphasized the transformative impact of the collaboration with KfW on India's power sector. He stated, "This announcement not only showcases REC's ability to secure strategic partnerships with international financial institutions but also underscores our integral role in driving positive change within the power distribution landscape in India."
"The collaboration with KfW is expected to have a transformative impact on the operational capabilities and financial resilience of DISCOMs, ultimately contributing to the broader goals of the RDSS scheme and the nation's power sector reforms," he added.
please contact: contact@energetica-india.net.
Nehal Gupta
Managing Director
AMU Drives Clean Energy Transition with Tailored EV Financing Solutions
Maurits van Tol
CEO - Catalyst Technologies
Driving Net Zero: How Johnson Matthey is Pioneering Sustainable Solutions Worldwide
Sharat Goyal
Founder
Impact Infracap Bridges Market Gaps for Key Renewable Energy Components
Pashu Gopalan
President & CEO
The Future of Distributed Solar in India: Market Potential, Growth, and Fenice Energy’s Role
Udit Garg
Director & CEO
India's Energy Security: A Multi-Faceted Challenge and Opportunity