Rural Electrification Corporation (REC) has evinced interest in picking up state private sector power distribution companies' stake. At a press conference in Kolkata, H D Khunteta, director (finance), REC, said the company had started financing private sector power utilities and was open to acquiring stake in them. "If the right opportunity comes, REC will pick up equity stake in private companies,' he said. The company is eying Rs 600 crore fee-based income from its consultancy and advisory business in four years. The current income from such services is at Rs 12 crore, accounting for 1.5 per cent of the company's revenue. Rajiv Gandhi Grameen Vidyutikaran Yojna, a government-scheme launched in 2005 for rural electrification, will generate Rs 100-140 crore every year for three years. REC has a 5 per cent stake in Indian Energy Exchange (IEX), promoted by Financial Technologies India. It has a contribution of about Rs 20 crore in a private equity corpus for funding small hydro-electricity projects in the country. The company plans to tap the capital market with an issue size of Rs 1,400-1,630 crore this month.