Rural Electrification Corporation (REC) is reportedly eying to diversify from power sector lending to financing equipment manufacturing, energy efficiency schemes, power plants renovation and coal blocks development. The company is even considering changing its name to suit its diversification plans.
The State-run company is also betting big on up-gradation of interstate transmission links and 175 GW renewable energy generation plans of the government. The company is planning to lend to renovation and modernisation programmes of old thermal power projects as per the environment standards.
REC is engaged in providing financial assistance to state electricity boards, state government departments and rural electric co-operatives for rural electrification projects as are sponsored by them.
