Pradhan Mantri Suryoday Yojana: REC Ltd to Spearhead Rooftop Solar Mission with Rs 1.2 Lakh Crore Funding
In a significant development, REC Ltd, a Maharatna power finance company, has been designated as the nodal agency for the ambitious Pradhan Mantri Suryoday Yojana. This initiative, announced by Prime Minister Narendra Modi on January 22, aims to install rooftop solar panels in one crore households. REC Ltd, under the leadership of CMD Vivek Kumar Dewangan, is set to lend up to Rs 1,20,000 crore for this massive undertaking.
Target and Timeline: The scheme sets an ambitious target of installing rooftop solar in one crore households within a year, contributing to the larger goal of achieving 40 GW of rooftop solar installations by 2026.
In the quarter ending December 2023, REC Ltd reported a net profit of Rs 3,269.3 crore, reflecting a 13.6% increase from the previous year. The company remains steadfast in its commitment to advancing renewable energy initiatives.
Kindly share your responses in the comment section!!
The Gujarat High Court has issued the policy which the banning the use of Artificial…
The census is an important process through which a country collects information about its population.…
India has launched Sadhana Saptah 2026 which is the nationwide initiative which is focused on…
Rating agency Moody has lowered the India's economic growth for the FY27. Moody's have projected…
Our Earth has seven continents and each one is different in its land, weather and…
Income Tax Department of India has launched a new platform called 'Kar Saathi'. It is…