REC commits USD 1 mn to International Solar Alliance

State-run power sector financier Rural Electrification Corporation (REC) today announced its commitment of USD 1 million to International Solar Alliance (ISA).

"In view of the World Environment Day 2018, REC contributed USD one million to the International Solar Alliance (ISA) becoming a corpus contributor," an REC statement said.

REC Chairman and Managing Director P V Ramesh handed over the cheque to Interim Director General of ISA Upendra Tripathy in the presence of the Power Minister R K Singh, REC's Director (Technical) S K Gupta and other senior officials from the two organisations.

The pact was inked on June 4 at the World Environment Day exhibition at Vigyan Bhawan in New Delhi.

Ramesh said, The REC is extremely proud to partner with ISA and promote sustainability through global collaboration, especially with India hosting the World Environment Day this year.

The REC finances projects throughout the power sector value chain and has been focussing on increasing its renewable energy portfolio as well as venturing into the e-vehicle and storage infrastructure.