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!!
India, renowned for its agricultural diversity, continues to dominate the global sugarcane production landscape. As…
Despite the Uttarakhand government's submission to the Supreme Court that the emergency situation regarding forest…
India's remarkable surge in solar energy deployment propelled it past Japan, securing its position as…
As Vladimir Putin embarks on his fifth term as President of Russia, the nation finds…
John Swinney, a veteran of the Scottish National Party (SNP), has been elected as the…
In the annals of Indian history, certain leaders shine brightly, leaving an indelible mark on…