REC Secures $200M Green Loan from Deutsche Bank

11 Jul 2024 CW Team

State-run REC Limited has secured a green loan amounting to JPY 31.96 billion (equivalent to $200 million) from Deutsche Bank AG's GIFT City branch. This marks a significant move towards financing sustainable development in India.

This green facility, the first of its kind between an Indian government entity and Deutsche Bank, aims to fund projects that align with strict environmental standards. These projects will enhance renewable energy adoption and contribute to carbon emission reduction across the nation. It is also noted as one of the first JPY-denominated green loans executed by Deutsche Bank AG, GIFT City.

Vivek Kumar Dewangan, CMD of REC, stated, ?This successful transaction is in line with REC?s commitment to enhance its green energy financing and sustainable projects capabilities as well as the global community?s support for sustainable development projects in India. This benchmark transaction is anticipated to pave way for more such collaborations in future which can help in achieving nation?s goals in green space financing.?

Kaushik Shaparia, CEO of Deutsche Bank Group, India, added, ?Our collaboration with REC underscores our steadfast commitment to advancing environmentally responsible initiatives and promoting sustainable financing within India. This transaction reinforces Deutsche Bank?s expertise in green financing, demonstrating our ability to support clients in their transformation towards a carbon-free future.?

In the last financial year, REC Ltd sanctioned loans worth ?3.59 trillion, out of which ?1.36 trillion were for renewable energy projects. The company plans to increase the share of renewable energy in its loan book to 30 percent by 2030 from the current 10 percent.

Infrastructure Energy

25 Jun 2026

Centre Prioritising Energy Security With Coal Gasification

Union minister for Coal and Mines G Kishan Reddy said the Centre is prioritising energy security through a strategic shift to coal gasification and has announced incentives totalling Rs 460 billion (bn) to support the effort. He said more than 35 companies will start coal gasification activities in India within two months and that the government is encouraging firms that bring technology to close the domestic technology gap. The minister described the initiative as aimed at reducing import dependence and developing indigenous capacity. India has the fifth-largest coal reserve in the world, and..

BHEL and Coal India Invest Rs 250 bn in Odisha Gasification

Bharat Heavy Electricals (BHEL) and Coal India (CIL) are jointly investing Rs 250 billion in a coal gasification project in Odisha, with the Prime Minister laying the foundation stone in Jharsuguda. Union Coal and Mines Minister G Kishan Reddy described the initiative as a transformative shift in coal utilisation that will open industrial avenues for the state. The project moves coal beyond conventional power generation to industrial feedstocks. Coal gasification will convert coal into synthesis gas, a versatile feedstock for chemicals, fertilisers and synthetic fuels, and the technology is ex..

BCCL Hands Over Dugdha Coal Washery To JSW Steel

Bharat Coking Coal has handed over the Dugdha Coal Washery to JSW Steel, marking the first coal washery asset monetisation under the Ministry of Coal's asset monetisation programme. The handover took place in the presence of senior officials from Bharat Coking Coal Ltd, JSW Steel and JSW Energy. The washery has a capacity of two million tonnes per annum (mn t per annum), and its transfer is intended to introduce private sector practices into coal beneficiation operations. The monetisation is aimed at modernising coal sector assets, improving operational efficiency and enhancing resource utilis..