REC Limited Receives SKOCH ESG Award 2024 for Renewable Energy Financing Excellence
The award was presented to T.S.C. Bosh, Executive Director of REC Limited, at a ceremony held in New Delhi.
April 02, 2024. By Abha Rustagi
This recognition highlights REC's steadfast commitment to sustainable financing, playing a pivotal role in driving India towards a greener future and expediting the transition to renewable energy sources. The award was presented to T.S.C. Bosh, Executive Director of REC Limited, at a ceremony held in New Delhi.
As a key player in India's clean energy transition, REC has actively contributed to the nation's sustainable development. The organization has undertaken various initiatives and achieved significant milestones in supporting sustainable projects across the country. REC has also forged partnerships through Memorandums of Understanding (MOUs) for green projects, demonstrating its dedication to fostering environmentally responsible investments.
In addition to its efforts in renewable energy financing, REC has engaged in constructive dialogues with developers of green projects, spanning diverse sectors such as solar, wind, pumped storage projects, E-mobility, RE manufacturing, green ammonia and green hydrogen, and battery storage. These engagements highlight REC's comprehensive approach towards promoting sustainability across different segments of the energy sector.
Looking towards the future, REC envisions substantial growth in its renewable energy portfolio, with projections indicating a tenfold increase in its present value by 2030. The organization aims to expand its assets under management to over INR 3 lakh crores, representing approximately 30 percent of its total portfolio, further solidifying its position as a leader in sustainable financing for renewable energy projects.
The SKOCH ESG Awards serve as a prestigious platform to recognize organizations that demonstrate exemplary performance in environmental, social, and governance (ESG) practices. These awards play a crucial role in evaluating the commitment of companies toward India's sustainable development goals, with a focus on promoting sustainable investments and processes for a thriving business landscape.
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