REC Ltd Secures $200 Million Green Loan from Deutsche Bank for Sustainable Projects in India
State-run REC Ltd has received a $200 million loan from Deutsche Bank AG to fund green projects in India. This move aligns with REC’s green finance framework.
“This green facility is the first successful collaboration between an Indian government entity and Deutsche Bank AG’s GIFT City branch,” said a company statement on Wednesday.
Vivek Kumar Dewangan, CMD of REC, said, “This successful transaction supports REC’s commitment to enhancing green energy financing and sustainable projects. It sets a benchmark for future collaborations to help achieve the nation’s green financing goals.”
Kaushik Shaparia, CEO of Deutsche Bank Group, India, added, “Our partnership with REC highlights our commitment to promoting sustainable financing in India. This deal showcases Deutsche Bank’s expertise in green financing and our support for clients moving towards a carbon-free future.”
In the last financial year, REC sanctioned loans worth ₹3.59 trillion, with ₹1.36 trillion dedicated to renewable energy projects. The company aims to increase the share of renewable energy in its loan portfolio from 10% to 30% by 2030.
Shares of REC on the BSE closed at ₹629.70 on Wednesday, up 2.87% from the previous close.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
