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REC looking at possibility of forming a Private Equity fund focused on Renewable Energy investments in India

A couple of weeks ago we had talked about the state-run Rural Electrification Corporation plans to set up renewable energy projects entailing an investment of about Rs 2,800 crore in the next five years.

REC had talked about a plan to have around 300 to 400 MW capacity in renewable energy over the next 4-5 years.

According to reports, State-run Rural Electrification Corporation is planning to invest in equities that could offer returns of up to 30 per cent, as part of efforts to boost stakeholders’ value.

REC, which offers financing for power sector, is also looking at the possibility of having private equity fund to make investments in projects.

“We are framing the policies on PE fund and about making investments in equity.

“Investment in equity would be subject to approval of the board and we will make investment in only those companies where the return on equity is around 30 per cent,” REC Chairman and Managing Director H D Khunteta.

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