REC Approves INR 6,075 Cr Loan to Greenko, INR 3,081 Cr Debt to Serentica Renewables
REC Limited, a prominent Maharatna firm in India, has recently taken significant steps to bolster the renewable energy sector and green finance initiatives. These endeavors align with REC's long-term vision of achieving a green finance loan book worth INR 3 lakh Crore by the FY 2030.
September 18, 2023. By EI News Network
Along with this, REC approved INR 6,075 Crore to renewable energy company Greenko to establish a 1,440 MW standalone pumped storage project.
REC Limited, a prominent Maharatna firm in India, has recently taken significant steps to bolster the renewable energy sector and green finance initiatives.
Additionally, REC is actively involved in deliberations with Greenko and exploring opportunities for providing financial support to various other clean energy ventures. These endeavors align with REC's long-term vision of achieving a green finance loan book worth INR 3 lakh Crore by the FY 2030.
REC organised the Green Finance Summit earlier this year, coinciding with India's G20 Presidency. This summit yielded substantial results, with the signing of Memorandums of Understanding (MoUs) valued at approximately INR 2.86 lakh Crore with RE developers.
While REC's main focus is on power sector financing and development throughout India, it's worth observing that they've expanded their horizons. The company has diversified into non-power infrastructure and logistics sectors, encompassing crucial areas like airports, metro systems, railways, ports, bridges, and more.
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