Energy security and independence along with climate change is one of the most important issues & today power generation from renewable energy sources is increasingly becoming important all over the world, as we strive to mitigate green house gases and climate change issues. India cannot rely indefinitely on fossil based energy sources, so there is growing need for renewable energy projects like solar, wind, biomass, small hydro etc to meet the growing needs of power requirements.
Potential for generating renewable energy is huge, there is growing realization in the government to harness all available Renewable energy sources, which is now transforming into reality with the increased Government focus on renewables.
India has an installed renewable energy base of about 20 GW, in 2011 which is around 11 per cent of the country's total power capacity and accounts for 4 per cent of the electricity mix, further the country's installed capacity in renewable energy has risen from about 3 percent of the total installed capacity in 2002 to over 11 per cent currently. India aims to take it to over 20 per cent in the next decade with a capacity of over 70 GW.
Recent initiatives by GOI in promoting development of renewable energy sources such as
Mandatory Renewable Purchase Obligations
Revised tariff guidelines
Generation based incentives
Introduction of Renewable Energy Certificates (RECs)
have assisted in improving the generation of renewable energy.
REC finances all type of Power Generation Projects based on Renewable Energy Sources i.e Solar PV, Solar Thermal, Wind, Biomass , Cogeneration, Small Hydro etc.
The borrowers of REC include State Sector Power Utilities/SEBs, Central Sector, Joint Sector and Private Sector Power Utilities.
REC sanctions loan as a sole lender or as a co-lender in consortium with or without the status of lead financer.
Contact Us :
GM (Renewable Energy)
Core 4, SCOPE Complex,
7, Lodi Road, New Delhi-110003