Renewable Loan Sees Sixfold Surge
POWER & RENEWABLE ENERGY

Renewable Loan Sees Sixfold Surge

In a resounding testament to the accelerating momentum of renewable energy projects in India, the Rural Electrification Corporation (REC) has reported a staggering sixfold increase in its renewable energy loan disbursements during the fiscal year 2024. This substantial surge underscores the robust growth trajectory of the renewable energy sector, driven by ambitious government initiatives and increasing investor confidence.

REC, a leading non-banking financial institution under the Ministry of Power, has been instrumental in facilitating the expansion of renewable energy infrastructure across the country. Its significant uptick in renewable loan disbursals reflects the growing appetite for clean energy investments and the pivotal role played by financial institutions in fuelling this transition.

The unprecedented rise in REC's renewable loan disbursements aligns with India's ambitious renewable energy targets, including the goal of achieving 450 gigawatts (GW) of renewable energy capacity by 2030. With increasing emphasis on sustainability and decarbonisation, renewable energy projects have emerged as key drivers of economic growth, job creation, and environmental stewardship.

Key factors contributing to the surge in REC's renewable loan portfolio include favourable policy frameworks, declining renewable energy tariffs, technological advancements, and heightened investor interest. Moreover, the availability of affordable financing options has empowered developers to expedite project implementation and scale up renewable energy capacity across diverse segments such as solar, wind, and hydropower.

As India strives to transition towards a low-carbon future and mitigate the adverse impacts of climate change, investments in renewable energy infrastructure have assumed paramount importance. REC's robust support in terms of financing and advisory services has bolstered the renewable energy ecosystem, enabling developers to navigate regulatory complexities and access capital at competitive rates.

In conclusion, the remarkable sixfold surge in REC's renewable loan disbursements underscores the transformative potential of renewable energy in driving sustainable development and powering India's economic resurgence. With steadfast commitment and collaborative efforts from stakeholders across the public and private sectors, India is poised to emerge as a global leader in renewable energy deployment, setting a precedent for green growth and climate action worldwide.

In a resounding testament to the accelerating momentum of renewable energy projects in India, the Rural Electrification Corporation (REC) has reported a staggering sixfold increase in its renewable energy loan disbursements during the fiscal year 2024. This substantial surge underscores the robust growth trajectory of the renewable energy sector, driven by ambitious government initiatives and increasing investor confidence. REC, a leading non-banking financial institution under the Ministry of Power, has been instrumental in facilitating the expansion of renewable energy infrastructure across the country. Its significant uptick in renewable loan disbursals reflects the growing appetite for clean energy investments and the pivotal role played by financial institutions in fuelling this transition. The unprecedented rise in REC's renewable loan disbursements aligns with India's ambitious renewable energy targets, including the goal of achieving 450 gigawatts (GW) of renewable energy capacity by 2030. With increasing emphasis on sustainability and decarbonisation, renewable energy projects have emerged as key drivers of economic growth, job creation, and environmental stewardship. Key factors contributing to the surge in REC's renewable loan portfolio include favourable policy frameworks, declining renewable energy tariffs, technological advancements, and heightened investor interest. Moreover, the availability of affordable financing options has empowered developers to expedite project implementation and scale up renewable energy capacity across diverse segments such as solar, wind, and hydropower. As India strives to transition towards a low-carbon future and mitigate the adverse impacts of climate change, investments in renewable energy infrastructure have assumed paramount importance. REC's robust support in terms of financing and advisory services has bolstered the renewable energy ecosystem, enabling developers to navigate regulatory complexities and access capital at competitive rates. In conclusion, the remarkable sixfold surge in REC's renewable loan disbursements underscores the transformative potential of renewable energy in driving sustainable development and powering India's economic resurgence. With steadfast commitment and collaborative efforts from stakeholders across the public and private sectors, India is poised to emerge as a global leader in renewable energy deployment, setting a precedent for green growth and climate action worldwide.

Next Story
Technology

AirBrick Infra Sets Rs 1 billion Target, Expands to Dubai and Tier-II Cities

AirBrick Infra, one of India’s fastest-growing AI-led commercial interior design and build firms, has announced a sales order target of Rs 1 billion for FY 2025–26. The projection represents a 50 per cent growth over the previous fiscal year and reflects rising demand, increased repeat business, and the company's robust tech-first delivery model.  Now in its third year of operations, AirBrick continues its rapid scale-up, having successfully delivered over 70 projects spanning 3 lakh sq ft in FY 2023–24. FY 2024–25 witnessed the onboarding of several Fortune 500 clients, sett..

Next Story
Resources

Virtusa Foundation Powers Green Education Drive in Bengaluru

The Virtusa Foundation, CSR arm of digital engineering and technology leader Virtusa Corporation, has announced key infrastructure and mobility initiatives at the Ramakrishna Mission, Shivanahalli, Bengaluru. The launch marks the inauguration of a 16-room residential facility for lady teachers and the deployment of two solar-powered electric buses, underscoring Virtusa’s commitment to its core pillars of Education, Environment and Empowerment (3Es).  Located on the forest fringe near Bannerghatta National Park, the initiative supports tribal and underserved communities, complementi..

Next Story
Infrastructure Urban

Godrej Enterprises Drives India’s Smart Green Logistics Shift

As India accelerates its transformation into a global manufacturing and logistics hub, Godrej Enterprises Group (GEG) is taking the lead with its smart, sustainable intralogistics solutions. Through its Material Handling Equipment (MHE) and Storage Solutions businesses, GEG is redefining operational efficiency in modern warehouses and factories using IoT, automation, and AI. GEG has consistently maintained a 20–25 per cent market share in the intralogistics sector over the past three years. Today, over 37 per cent of GEG’s revenues come from its Good & Green portfolio, and its net..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?