The Maharatna CPSE wins the award in Renewable Energy Financing Category
FinTech BizNews Service
Mumbai, April 1, 2024: REC Limited, a Maharatna CPSE under the Ministry of Power and a leading NBFC, has been bestowed with the SKOCH ESG Award 2024 in the 'Renewable Energy Financing' category. The award recognizes REC's commitment towards sustainable finance, driving progress towards a greener future. Shri TSC Bosh, Executive Director, REC Limited, received the award in New Delhi.
This accolade underscores REC's dedication to sustainable financing, paving the way for a greener future and accelerating the transition to renewable energy. REC has emerged as a significant player in India's clean energy transition, actively contributing to the nation's sustainable future. Through various initiatives and achievements, REC has committed to numerous sustainable projects and signed various MOUs for green projects.
Furthermore, REC has engaged in one-on-one discussions with various developers of green projects, spanning sectors such as solar, wind, PSPs, E-mobility, RE manufacturing, Green ammonia/hydrogen, and battery storage. Looking ahead, REC anticipates a significant expansion in its renewable energy portfolio, with projections indicating growth to 10 times its present value, reaching more than Rs. 3 lakh crore by 2030, representing approximately 30% of its AUM.
The SKOCH ESG Awards recognize organizations that demonstrate outstanding performance in Environmental, Social, and Governance (ESG) practices. The SKOCH ESG Award and Assessment serve as an important benchmark for evaluating organizations' commitment to India 2047. It focuses on the interplay between sustainable investments and processes to shape a sustainable and growing business future.
