In a significant development, REC Ltd., an infrastructure financing company, has been appointed as the primary executor of the rooftop solar programme by the Ministry of New and Renewable Energy. This announcement was made through an official exchange filing on Thursday. As part of its role, REC is not only designated as the overall programme implementation agency but is also entrusted with the crucial responsibility of executing the scheme and coordinating with various stakeholders.
The ambitious rooftop solar programme aspires to achieve a cumulative capacity of 40,000 megawatts from rooftop solar panels by the year 2026. This strategic move aligns with the goals of the Maharatna company, emphasizing its commitment to contributing significantly to the renewable energy landscape.
As an infrastructure financing entity, REC specializes in providing long-term loans and diverse financing products aimed at facilitating the development of essential infrastructure assets across the country. This pivotal role assigned to REC underscores the company’s pivotal position in driving the nation’s transition towards sustainable and renewable energy sources.
The designation of REC as the key implementer highlights the government’s trust in the company’s capabilities and underscores its pivotal role in steering the successful execution of the rooftop solar programme. This initiative is poised to play a crucial role in advancing India’s renewable energy agenda, fostering environmental sustainability, and contributing to the country’s energy security.
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