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REC receives SKOCH ESG award 2024 for renewable energy financing excellence

April 2, 2024 12:26 pm

REC receives SKOCH ESG award 2024 for renewable energy financing excellence
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REC has emerged as a significant player in India’s clean energy transition, actively contributing to the nation’s sustainable future. 

REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power and a leading NBFC, has been honoured with the SKOCH ESG Award 2024 in the ‘Renewable Energy Financing’ category. This recognition highlights REC’s dedication to sustainable financing, paving the way for a greener future and accelerating the transition to renewable energy. T.S.C. Bosh, Executive Director of REC Limited, received the award in New Delhi.

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, Pumped Storage Projects, E-mobility, RE manufacturing, green ammonia, green hydrogen, and battery storage.

Looking ahead, REC anticipates significant expansion in its renewable energy portfolio, with projections indicating growth to 10 times its present value, reaching more than ₹ 3 lakh crores by 2030, representing approximately 30 percent of its Assets Under Management.

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 organisations’ commitment to India 2047. It focuses on the interplay between sustainable investments and processes in shaping a sustainable and growing business future.

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