State-owned non-banking finance firm REC Ltd is planning to increase its loan book over two-fold to Rs 10 lakh crore by 2030, including Rs three lakh crore for renewable energy projects.
This assumes significance given India’s ambitious target of having 500GW of renewable energy capacity by 2030. REC Ltd’s loan book is Rs 4.35 lakh crore as of March 31, 2023.
At present, India has a renewable energy capacity of 1,25,692.30MW, excluding 46,850.17 MW of large hydropower. As much as 82,000 MW of renewable energy capacity is under construction, excluding 14,000 MW of hydro projects.
