REC Commits USD 1 MN to International Solar Alliance

State-run power sector financier Rural Electrification Corporation (REC) has announced its commitment of USD 1 million to International Solar Alliance (ISA). “In view of the World Environment Day 2018, REC contributed USD 1 million to the ISA becoming a corpus contributor,” an REC statement said. REC Chairman and Managing Director Mr P V Ramesh handed over the cheque to Interim Director General of ISA Shri Upendra Tripathy in the presence of Shri R K Singh, Union Minister (IC) for Power and New & Renewable Energy. REC’s Director (Technical) Mr S K Gupta and other senior officials from the two organizations were also present at the event. The pact was inked on June 4, 2018, at the World Environment Day exhibition at Vigyan Bhawan in New Delhi. Mr Ramesh said, “The REC is extremely proud to partner with ISA and promote sustainability through global collaboration, especially with India hosting the World Environment Day this year.” The REC finances projects throughout the power sector value chain and has been focussing on increasing its renewable energy portfolio as well as venturing into the e-vehicle and storage infrastructure.

Source: www.businesstoday.in