REC Pegged To Be the Leader in India’s Energy Transition Journey; Being Considered for DFI Status by Government of India
REC Limited a Navratna CPSE under the Ministry of Power is being considered for the status of a development financial institution (DFI). The objective behind the move is to enable REC to steer global climate funding and net zero investment in the country.
REC Limited a Navratna CPSE under the Ministry of Power is being considered for the status of a development financial institution (DFI). The objective behind the move is to enable REC to steer global climate funding and net zero investment in the country.
In the recent AGM of the corporation held on 16th September the investors well apprised by the Chairman and Managing Director Shri Vivek Kumar Dewangan about the company's future vision to diversify into energy transition and future technology funding.
The estimated fund requirements for transitioning towards a Net Zero Economy would be approx. USD 3.5 Trillion till FY 2050 and approx. USD 10 Trillion till 2070 out of which a large share of investment will be required in the Power Sector. REC as a DFI will be analyzing end-to-end capital flow requirements and bridge the gap by large-scale fund mobilization and monitoring the funds.
With a strong domain expertise and appraisal capabilities, REC is strategically placed to dispense off the duties and responsibilities of a DFI.
With these developments REC is poised to contribute in the Nations journey to become a Infrastructure behemoth which will responsibly realize the dream a safe and carbon neutral tomorrow for generations to come.
REC has been steadfast in shaping and modelling itself with the changing needs of the nation – be it providing financial support across all segments of power sector, providing energy infrastructure to all villages and electricity access to all households to now reinventing itself in line with the Net Zero requirements of India’s booming economy.