REC Limited Secures Green Loan Facility Of 31.96 Billion Yen From Deutsche Bank AG, GIFT City Branch

Taking a significant step towards sustainable development in India, REC Limited (REC), a leading Indian power sector company, has successfully secured a green loan of JPY 31.96 billion (equivalent to US$200 million) to finance eligible green projects in India. This strategic investment reinforces REC’s commitment to promote sustainable development in line with the Company’s Green Finance Framework.

This green facility is the first successful collaboration of its kind between an entity of the Government of India and Deutsche Bank AG, GIFT City Branch. The facility sets a benchmark for similar green financing transactions in the Indian public sector landscape, highlighting the growing commitment to sustainable financing. The facility is also one of the first JPY-denominated green loan transactions for Deutsche Bank AG, GIFT City.

This facility reflects REC Limited and its partners’ commitment to support projects that meet stringent environmental standards, promote renewable energy and contribute to reducing carbon emissions across India. Additionally, it also reflects the growing momentum towards green financing and collective efforts of stakeholders to address environmental challenges.

On this occasion, Vivek Kumar Dewangan, IAS, Chairman and Managing Director, REC said, “This successful transaction is in line with REC’s commitment to enhance its capabilities in green energy financing and sustainable projects, as well as the global community’s support for sustainable development projects in India. This benchmark transaction is expected to pave the way for more such collaborations in the future that can help achieve the nation’s goals in green sector financing.”

Kaushik Shaparia, CEO, Deutsche Bank Group, India said, “Our collaboration with REC underlines our firm commitment to advance environmentally responsible initiatives and promote sustainable financing in India. This transaction reinforces Deutsche Bank’s expertise in green lending, demonstrating our ability to assist clients in their transition towards a carbon-free future.”