REC Limited, formerly known as Rural Electrification Corporation Limited, is a Government of India enterprise under the Ministry of Power. Established in 1969, REC plays a crucial role in the development and financing of various power projects across India.

The primary objective of REC is to finance and promote rural electrification projects all over the country. It provides financial assistance to state electricity boards, state government departments, rural electric cooperatives, NGOs, and private power developers for rural electrification projects.

REC offers financial assistance at competitive rates for promoting renewable energy initiatives such as solar power plants, wind farms, small hydro projects, biomass-based power generation systems among others. The company also extends its support through funding transmission & distribution infrastructure improvement programs and energy efficiency schemes.

One aspect that sets REC apart from its competitors is its focus on sustainable energy solutions along with innovative financing models for clean energy initiatives. The company has been actively involved in driving the adoption of green technologies by providing cost-effective financing options for renewable energy projects.

In addition to its core operations related to lending activities in the power sector including renewables like solar and wind; it has also diversified into areas such as consultancy services regarding project monitoring or evaluation and extending expertise towards development works associated with this domain. This diversification helps position REC as not just a financier but an enabler contributing significantly towards nation-building efforts around infrastructural growth within these sectors.