REC is planning to increase its loan book over two-fold to Rs 10 lakh crore by 2030, including Rs 3 lakh crore for renewable energy projects. This assumes significance given India's ambitious target of having 500GW of renewable energy capacity by 2030. The company's loan book is Rs 4.35 lakh crore as of March 31, 2023.
REC is engaged in providing financial assistance to state electricity boards, state government departments and rural electric cooperatives for rural electrification projects as are sponsored by them.
