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ACME Sun Power secures Rs 37.53 billion loan from REC

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ACME Sun Power, a subsidiary of ACME Solar Holdings, has secured a Rs 37.53 billion term loan from REC Limited to develop a 320 MW firm and dispatchable renewable energy (FDRE) project in collaboration with SJVN. The project aims to provide round-the-clock power, assisting distribution companies in meeting renewable purchase and energy storage obligations. Solar capacity will be developed in Jaisalmer, Rajasthan, while wind sites are planned in Bhuj and Jam Khambhaliya, Gujarat. A power…

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REC Limited posts 17% revenue growth, Rs 74.88 billion net profit in Q2 FY25

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REC Limited has reported strong financial results for Q2 FY25, with a 17% rise in revenue from operations, reaching Rs 135.71 billion, compared to Rs 115.90 billion in the same quarter last year. Total income increased by 18% to Rs 266.33 billion, while net interest income saw a notable 25% jump, reaching Rs 97.23 billion. Net profit rose by 11% to Rs 74.88 billion from Rs 67.34 billion in Q2 FY24. Total sanctions increased by…

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MNRE issues EoI for vendors under PM Surya Ghar

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The Ministry of New and Renewable Energy (MNRE) has issued an expression of interest (EoI) to expand the network of vendors under the PM-Surya Ghar: Muft Bijli Yojana. The initiative aims to accelerate the deployment of residential rooftop solar systems by increasing the vendor network from the current 8,000 to 25,000. REC Limited’s vendor management division will provide support through weekly interactions, dedicated email assistance, and capacity-building programs to enhance vendor capabilities and ensure the…