Rural Electrification Corporation (REC) has inked a loan agreement with German bank KfW for 200 million EUR facility that would be used to finance clean energy projects in India.
This is the company’s fourth line of credit under Indo-German development cooperation. The partnership reflects the commitment of both the institutions towards sustainable development.
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.
