REC Limited, a prominent Maharatna company, has taken a significant step towards supporting India’s renewable energy ambitions by sanctioning debt funding of more than Rs. 3,081 Crore to Serentica Renewables. This funding will facilitate the development of a 560 MW peak greenfield solar-wind hybrid project located in the Gadag district of Karnataka.
Advancing India’s Energy Transition
This partnership reflects REC Limited’s pivotal role in catalyzing India’s energy transition, aligning with the nation’s commitments at COP26 and recent G20 pledges during India’s G20 Presidency. REC Limited is dedicated to fostering green finance initiatives and is resolutely working towards achieving a green finance loan book of Rs. three lakh Crore by the fiscal year 2030.
A Vision for a Sustainable Future
Shri Vivek Kumar Dewangan, CMD of REC Limited, expressed pride in contributing to India’s journey towards a sustainable energy future. He emphasized REC’s commitment to aligning with global visions for a cleaner and greener planet. REC Limited envisions itself as a leading financing partner for India’s energy transition, contributing significantly to the global mission of ‘one world, one family, one future’ as outlined by the G20.
Commitment to Sustainability
As India and the world move towards a cleaner and greener energy landscape, REC Limited’s dedication to fostering green finance initiatives and its instrumental role in India’s energy transition underscore its commitment to creating a sustainable & eco-friendly future.
REC Limited, an NBFC specializing in Power Sector Financing and Development across India, has a rich history spanning over five decades in the power sector. In addition to power projects, REC also extends financial assistance to non-power infrastructure and logistics sectors, contributing to India’s comprehensive development.