REC Signs Rs 3 Lakh Crore Agreement with Rajasthan Government for Power Projects

State-owned REC has signed an agreement with the Rajasthan government to provide financing of Rs 3 lakh crore for power and non-power infrastructure projects over six years. This annual financing will involve Rs 50,000 crore, a significant increase from Rs 20,000 crore. REC is a Non-Banking Finance Company under the Ministry of Power.

State-owned REC announced on Tuesday its partnership with the Rajasthan government to furnish Rs 3 lakh crore for power projects over a six-year period.

The agreement will facilitate Rs 50,000 crore in annual financing, a notable increase from the previous Rs 20,000 crore, for both power and non-power infrastructure sectors.

Operating under the Ministry of Power, REC is a Non-Banking Finance Company specializing in power sector financing in India.

(With inputs from agencies.)