REC Limited has announced a non-binding commitment to significantly boost its renewables loan book to over ₹3 trillion by 2030. The company aims to increase its focus on renewable energy projects, raising the share of renewables in its loan portfolio from the current 8% to 30%. This announcement was made during REC’s participation in the 4th Global Renewable Energy Investors Meet & Expo (RE-INVEST 2024) held in Gandhinagar, Gujarat.
At the event, REC also signed Memorandums of Understanding (MoUs) with renewable energy developers, totaling ₹1.12 trillion. These MoUs cover various projects, including solar and wind hybrid projects, round-the-clock renewable energy, floating solar plants, battery energy storage systems, and more.
REC’s commitment supports India’s broader goal of increasing its installed non-fossil fuel-based generation capacity from 200 GW to 500 GW by 2030. The company is also open to considering renewable energy projects for the commercial and industrial (C&I) segment.
