REC Ltd Secures $200 Million Green Loan from Deutsche Bank for Indian Projects

REC Ltd received a green loan of JPY 31.96 billion (USD 200 million) from Deutsche Bank's GIFT City branch to fund green energy projects in India. This is a pioneering collaboration between an Indian government entity and Deutsche Bank. It is also one of the first JPY-denominated green loan transactions for Deutsche Bank.

State-owned REC Ltd announced on Wednesday that it has secured a loan of JPY 31.96 billion Japanese yen (approximately USD 200 million) from Deutsche Bank's GIFT City branch to fund green energy initiatives in India.

The loan, described as a green loan, is a landmark collaboration between REC Ltd and Deutsche Bank AG, GIFT City branch. This also represents one of Deutsche Bank's first JPY-denominated green loan transactions.

Vivek Kumar Dewangan, CMD of REC Ltd, stated that this successful transaction aligns with REC's commitment to enhance green energy financing and sustainable projects. He added that the transaction paves the way for future collaborations in green space financing. Kaushik Shaparia, CEO of Deutsche Bank Group in India, highlighted the bank's dedication to supporting environmentally responsible initiatives and showcased its expertise in green financing.