REC has raised JPY (Japanese Yen) 61.1 billion (about Rs 3,500 crore) by issuing green bonds. Proceeds from the issue of the Bonds will be applied to finance the eligible green projects in accordance with the company’s Green Finance Framework, the RBI's ECB guidelines and the approvals granted by it from time to time.
The company has successfully issued its inaugural JPY 61.1 billion 5-year, 5.25-year and 10-year Green bonds issued under its $10 billion Global Medium Term Notes Programme. The company’s eleventh venture into the international bond market and inaugural Yen Bond issuance, which is also the first Yen Green Bond issuance by any Indian PSU.
REC is engaged in providing financial assistance to state electricity boards, state government departments and rural electric cooperatives for rural electrification projects as are sponsored by them.
