Rural Electrification Corp. Ltd. profile and corporate video
Rural Electrification Corp. Ltd. provides financial assistance to state electricity boards, state government departments and rural electric cooperatives for rural electrification projects. It provides funding assistance for power generation, transmission & distribution projects besides for electrification of villages. The company’s project offices in the states coordinate the programmes of rural electrification financing with the concerned state power utilities and facilitate in formulation of schemes, loan sanction and disbursement and implementation of schemes by the concerned state electricity boards. Category of schemes financed by the company are: project intensive electrification, to cover intensive load development for providing connections to rural consumers in already electrified areas; project pump sets, aims at energisation of pump sets; project system improvement, to strengthen and improve the transmission, sub transmission and distribution system in the designated area and also lines for power evacuation; bulk loan (meters, transformers, conductors, capacitors etc.), for procurement and installation of meters, transformers and capacitors etc.; short term loan, to provide finance to the power utilities and state governments to meet their working capital requirement for different purposes, such as purchase of fuel for power plant, purchase of power, purchase of material and minor equipment, system and network maintenance, including transformer repairs; debt refinancing, to facilitate reduction of the cost of borrowings of state power utilities/highly rated private power utilities by repaying their high cost term loans raised from other banks/financial institutions for eligible projects/schemes; financing equipment manufacturers, to provide short term loan/medium term loan to the manufacturers of power/electrical material for power project; RE Cooperatives, to development of rural electric cooperative societies; generation, to provide term loan to state/ central sector/ private sector companies for generation projects covering all types of schemes/categories irrespective of nature, size and source of generation. Rural Electrification was founded on July 25, 1969 and is headquartered in New Delhi, India.“
*Information from Forbes.com
**Video published on YouTube by “REC Limited“