REC bags $200m green loans from Deutsche Bank AG

This will finance renewable energy projects in India. 

REC Limited has secured a green loan amounting to JPY31.96b ($200m) from Deutsche Bank AG, Gift City Branch which will be used to fund eligible clean energy projects in India. 

In a statement, the state-owned energy provider said this is the first collaboration between an Indian government entity and Deutsche Bank AG, GIFT City branch. It also marks one of the first Japanese Yen-denominated green loan transactions for Deutsche Bank AG, GIFT City. 

“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,” said Vivek Kumar Dewangan, IAS, CMD, REC

“This benchmark transaction is anticipated to pave way for more such collaborations in future which can help in achieving the nation's goals in green space financing,” he added.