26 Jan 2024: PIB Summary for UPSC

REC Limited and National Investment and Infrastructure Fund Limited to collaborate

Syllabus: GS-3, Economy

Prelims: National Investment and Infrastructure Fund, Maharatna Companies

Context:

REC Limited and National Investment and Infrastructure Fund Limited to collaborate on funding solutions for renewable energy projects and large infra projects.

Details:

• REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power and leading NBFC has signed an MoU with the National Investment and Infrastructure Fund Limited (NIIFL) to collaborate on a suite of funding solutions for Renewable Energy Projects as well as large-scale infrastructure projects in India.
• REC Ltd:
  • REC is a Maharatna CPSE under the Ministry of Power registered with RBI as a Non-Banking Finance Company (NBFC).
  • It is financing the entire Power-Infrastructure sector comprising Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage, Pumped Storage projects, Green Hydrogen and Green Ammonia projects. 

Read more on the National Investment and Infrastructure Fund (NIIF) in the linked article.

Read previous PIB articles here.