Rural Electrification gets German help for Clean Energy.

Rural Electrification Corporation (REC) in India is the Public Sector Undertaking (PSU) which looks after rural electrification programs. It recently signed a pact with the German bank KfW. The deal comprises of a loan worth EUR200 million between REC and KfW for the purpose of furthering the cause of clean energy projects in India.

REC plays a key role in the Indian power sector across the ladder and has had sanctions ranging upto one-fifth its total for renewable energy. With PM Modi referring to rural electrification last month while revisiting his 2015 Independence Day speech, this news surely sends out a message to the country.

[With a speculated Tesla buyout by the Saudi prince, to lay ground for a post-oil clean energy future, any positive news about clean energy definitely leaves an impact on the global business pundits.]

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This post has been authored by Ankit Pal, a Second Year student of West Bengal National University of Juridical Science.