Published on: April 2, 2024



NEWS – REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power, receives the SKOCH ESG Award 2024 in Renewable Energy Financing.


REC’s Contributions to Clean Energy:

  • REC actively contributes to India’s clean energy transition through sustainable projects and green initiatives.
  • Engages with developers across various sectors like solar, wind, E-mobility, green hydrogen, and battery storage for sustainable projects.

About SKOCH ESG Awards:

  • Recognizes outstanding Environmental, Social, and Governance (ESG) practices in organizations.
  • Serves as a benchmark for evaluating commitment to sustainable investments and shaping a sustainable business future.

About REC Limited:

  • ‘Maharatna’ under Ministry of Power, Govt. of India.
  • Registered with RBI as NBFC, PFI, IFC.
  • Established in 1969 for agricultural pump-sets; now covers Power-Infrastructure, Non-Power Infrastructure, and new tech
  • Key Functions:
    • Provides long-term loans for infrastructure.
    • Loan book ₹4.97 Lakh Cr, 90% to states.
    • Net worth ₹64,787 Cr; 8th in CPSE Net Profit. Strategic Role:
    • Nodal agency for SAUBHAGAYA, DDUGJY, NEF, RDSS; aids village electrification
  • Financial Strength:
  • Market borrowings include bonds, term loans, foreign borrowings.
  • High domestic ratings (AAA); international ratings from Moody’s (Baa3), Fitch (BBB).