Daily News Wrap-Up: REC Records Highest-Ever Loan Approvals in FY24

Railway invites bids for 8.383 MW of rooftop solar projects in Odisha, Jharkhand, West Bengal

April 11, 2024


Public infrastructure finance company REC Limited recorded its highest-ever loan approvals totaling ₹3.58 trillion (~$43.02 billion) in the financial year 2023-24, a year-over-year (YoY) increase of 33.66%, and disbursements reaching ₹1.61 trillion (~$19.34 billion), reflecting a 66.72% growth. A significant portion of the total approved loans, amounting to ₹1.37 trillion (~$16.46 billion), accounted for the renewable energy sector, showcasing a substantial YoY growth of 538.79%.

South Eastern Railway has invited bids to empanel agencies for setting up 8.383 MW of grid-connected rooftop solar power projects in Odisha, Jharkhand, and West Bengal through public-private partnerships on a design, build, finance, operate, and transfer basis. The projects would be developed in two capacity ranges— (i) above 10 kW and up to 50 kW, and (ii) above 50 kW and up to 100 kW. The last day to submit bids is April 30, 2024. Bids will be opened on the same day.

SJVN Green Energy (SGEL) has signed a joint venture and shareholders agreement with Assam Power Distribution Company (APDCL) to execute renewable energy projects/parks within the APDCL or SJVN jurisdiction areas and on a pan-India basis. SGEL will hold 51% of the ownership of the new JV company, while APDCL will own the remaining 49%. SJVN has frequently collaborated with APDCL to encourage renewable energy project development within the state.

The European Union and India have announced a matchmaking platform to foster collaboration among startups working towards battery recycling technologies for electric vehicles in both regions. Expressions of Interest have been invited (EoI) for a matchmaking event between European and Indian Small and medium-sized enterprises and startups in the sector. The EoIs have to be submitted between April 9 and 30, 2024. The matchmaking event has been tentatively scheduled for June 20.

The Central Electricity Regulatory Commission has issued draft regulations to determine fees and charges to be collected by Regional Load Despatch Centres from the generating companies, distribution companies, bulk consumers, inter-state transmission licensees, buyers, sellers, and inter-state trading licensees, settlement nodal agency and any other users. The proposed regulations are named Central Electricity Regulatory Commission (Fees and Charges of Regional Load Despatch Center and other related matters) Regulations, 2024. Stakeholders can submit their comments and suggestions by May 6, 2024.