REC Ltd's Loan Disbursement Soars with Renewables Leading the Charge

REC Ltd reported an 18% increase in total loan disbursements to Rs 54,692 crore for Q4 2024. Renewable energy loans grew 58.09% YoY, totaling Rs 6,314 crore. Over nine months, total loans disbursed reached Rs 1,45,647 crore, marking a 19.3% rise, with renewable energy loans surging by 78.68%.

State-owned REC Ltd announced on Friday a notable increase in its loan disbursement figures, reflecting an overall 18% growth to Rs 54,692 crore for the quarter ending December 2024. This surge underscores REC's expanding footprint in the financial sector.

The company highlighted a significant rise in renewable energy loan disbursements, which experienced a 58.09% year-on-year growth to Rs 6,314 crore by the end of December. This increase signals a strong commitment to supporting the renewable sector.

During the first three quarters of FY25, REC disbursed loans amounting to Rs 1,45,647 crore—an uptick of over 19% compared to the same period last year. Notably, loans for renewable projects soared by 78.68%, totaling Rs 17,612 crore, marking an impressive shift towards sustainable investments.

(With inputs from agencies.)