REC Pledges Rs 3 Lakh Crore for Renewable Energy by 2030

State-owned REC announced plans to increase its renewables loan book to over Rs 3 lakh crore by 2030, aiming to play a significant role in expanding India's non-fossil-based generation capacity. The company signed MoUs worth Rs 1.12 lakh crore with renewable energy developers, covering various innovative projects.

State-owned REC has committed to boosting its renewables loan book to over Rs 3 lakh crore by 2030, aiming to be a significant player in India's transition to increased non-fossil-based generation capacity.

In a statement, REC revealed plans to ramp up its share of renewables from 8 percent to 30 percent by 2030, as part of its broader Rs 10 lakh crore loan book strategy.

During the 4th Global Renewable Energy Investors Meet & Expo (RE-INVEST 2024) in Gandhinagar, REC signed MoUs worth Rs 1.12 lakh crore with renewable energy developers, spanning solar and wind hybrid projects, RTC projects, FDRE power, Floating Solar Plants, and hydroelectric projects.