REC Raises Rs.5,000 Crore via Bonds

03 Oct 2024 CW Team

REC Ltd, a leading financing agency in India’s power sector, has successfully raised Rs.5,000 crore through Central Board of Direct Taxes (CBDT)-notified zero-coupon bonds. These funds are earmarked to support renewable energy projects and infrastructure development across the country. Zero-coupon bonds, which do not provide periodic interest payments, are issued at a discount, maturing at their face value. This financing method is attractive to investors seeking long-term capital gains while allowing REC to secure funds efficiently.

The proceeds will primarily focus on advancing India’s renewable energy goals, aligning with the country’s commitment to cleaner, sustainable power generation. REC’s continued focus on green projects highlights its significant role in facilitating the energy transition, especially as India pushes to increase its non-fossil fuel capacity.

The bond issuance also reflects REC’s strong financial health and ability to attract investment even during volatile economic conditions. The strategic move to raise capital through zero-coupon bonds positions REC to finance a variety of clean energy projects, driving the nation closer to achieving its renewable energy targets. This capital raise will contribute significantly to India’s push for increased renewable capacity and reduced carbon emissions.

Infrastructure Urban

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