REC limited wins Best Green Bond – Corporate Award

The award is in the recognition for REC’s pioneering USD and Euro-Yen Green Bond issuances promoting environmental sustainability.

REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power and a leading NBFC, has been honoured with the esteemed Best Green Bond – Corporate Award at The Asset Triple A Awards for Sustainable Finance 2024.
REC received this recognition for its issuance of $750 million USD Green Bonds in April 2023, marking the first USD Green Bond issuance from India post India’s assumption of G20 Presidency and the largest ever Senior Green Bond Tranche by a South or South-East Asian issuer. The bond issue was priced at a minimum new issue premium of 7.5 bps, tighter than the most recent high-rated issuances from the region. It was well received by investors, highlighting REC’s significant contribution to financing projects aimed at mitigating climate change and promoting environmental sustainability.
This award underscores REC Limited’s unwavering commitment to sophisticated capital market instruments and customized financing solutions in advancing sustainable finance and fostering environmental stewardship. It represents a milestone in REC Limited’s dedication to supporting initiatives that drive positive environmental impact and foster sustainable development.

Chairman & Managing Director, REC Limited, Vivek Kumar Dewangan said: “We are delighted to receive this award, which reaffirms our commitment to sustainable finance and underscores our efforts to accelerate the transition towards a greener and more sustainable future at competitive costs. In addition to the USD Green Bonds of USD 750 Million issued in April 2023, REC also priced its inaugural Euro-Yen Green bonds of JPY 61.1 Billion in January 2024, which was the largest Yen Bond issuance by an Indian corporate. As such, REC stands resolute in its pledge to promote green and clean energy through these Green issuances.”
The Asset Triple A Awards are a pre-eminent recognition for those organizations that have excelled in their respective industry. With over two decades of experience conducting awards programmes, The Asset Triple A Awards reflect unparalleled industry understanding to be able to distinguish best-in-class organisations. The Asset Triple A Awards programmes are built upon a stringent methodology that is combined with a rigorous approach in selecting the best institutions and deals. The awards are adjudicated by The Asset’s board of editors who are regarded as the most experienced and collectively have several decades’ worth of evaluating industry awards.