REC Limited is emerging as a pivotal player in India’s evolving energy ecosystem—fast transforming from a traditional energy financer into a beacon of innovation, efficiency, and sustainability. Under the leadership of CMD Vivek Kumar Dewangan, the company is harnessing cutting-edge technologies such as AI, blockchain, and big data analytics to revolutionize its operations and broaden its impact.
Strategic Financing for Renewable Ambitions
- Aggressive Growth Targets
REC has committed to expanding its total loan book to ₹10 lakh crore by 2030, with a goal of allocating ₹3 lakh crore specifically to renewable energy. This aims to raise the share of renewables from around 8% today to 30%. - Major MoUs and Green Finance
In 2024, REC signed memorandums of understanding amounting to ₹1.12 lakh crore to support diverse green energy initiatives—including solar-wind hybrids, round-the-clock power, floating solar, hydrogen, and more. - Green Bonds & International Loans
REC raised USD 500 million via green dollar bonds and secured a JPY 31.96 billion (~USD 200 million) green loan from Deutsche Bank—boosting its capacity to fund clean energy adoption.
Tech-Powered Transformation & Transparency
- Empowering Power Distribution (DISCOMs) with Digital Tools
REC and its subsidiary have developed a web-based analytics platform leveraging AI, ML, blockchain, and big data to help DISCOMs monitor performance, analyze data, and make informed decisions with transparency and scalability. - A Living Innovation Hub: The REC Experience Centre
Located in Gurugram and inaugurated by CMD Dewangan in 2025, this immersive center uses AI-driven simulations, VR, AR, chatbots, and interactive displays to tell the story of India’s electrification journey—and REC’s role in it
