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To 'green up' portfolio, REC to sign Rs 2 trn pacts with 20 renewable firms

MoUs part of ongoing deliberations for energy transition under India's G20 Presidency

Renewable Energy, Solar Energy

Sources also indicated the company is looking at offshore borrowing and routing low-cost climate and allied funds to India

Shreya Jai Goa

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REC, one of the biggest lenders to India’s power sector, is planning to sign memoranda of understanding (MoUs) worth Rs 2 trillion with close to 20 renewable energy companies (both public and private sector) to fund their energy transition projects.

These include solar, wind power, green hydrogen, decarbonisation, and battery storage, among others.

The MoUs are part of the ongoing deliberations for the energy transition under India’s G20 presidency. The fourth and last Energy Transition Working Group meeting is underway in Goa. Sources in the know said the MoU fund pool would include Indian and global companies that have a

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First Published: Jul 20 2023 | 8:36 PM IST

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