Want to be a one-stop debt solution for renewable energy: REC chairman

'We are targeting a tenfold increase in our renewable energy portfolio to Rs 3 trillion by 2030'

REC is looking to shed its erstwhile identity as Rural Electrification Corporation. While it continues to focus on existing schemes, it is looking at a larger shift in its portfolio towards green energy projects, infrastructure segments, and tapping into global climate funds. The non-banking financial company is exploring several ways to reduce the cost of funding renewable energy projects. VIVEK K DEWANGAN, its chairman and managing director, in conversation with Shreya Jai at REC’s new office in Gurugram, talks about the financial sense behind the green shift. Edited excerpts:

REC has recently signed memoranda of understanding (MoUs) worth Rs 2.8