REC Raises 31.96 Billion Japanese Yen Through 5-Year Green Loan
REC Limited, a leading lender in the power sector, has successfully secured a 5-year green loan amounting to 31.96 billion Japanese yen (approximately $200 million). The transaction, facilitated by Deutsche Bank’s Gift City branch, marks one of the initial yen-denominated green loan deals for the bank in India.
The raised capital will be exclusively allocated to financing environmentally sustainable projects across India. REC has affirmed its dedication to bolstering green energy finance and enhancing capabilities in sustainable project development.
Vivek Kumar Dewangan, CMD of REC, highlighted the significance of this achievement in advancing REC’s green financing goals and aligning with global efforts to support sustainable development initiatives in India.
Kaushik Shaparia, CEO of Deutsche Bank Group in India, emphasized the bank’s commitment to promoting environmentally responsible initiatives through collaborations like the one with REC, underscoring their joint commitment to sustainable finance within India.
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