REC Secures ¥31.96 Billion Through Five-Year Green Loan

11 Jul 2024 , 10:12 AM

Through a 5-year green loan, power sector lender REC Limited has raised 31.96 billion Japanese yen. The deal was handled by Deutsche Bank’s Gift City branch.

According to REC, the loan—which is worth $200 million—will be used to fund green projects that qualify in India.

The world community’s support for sustainable development projects in India, as well as REC’s commitment to strengthening its green energy finance and sustainable project capabilities, are all aligned with this successful transaction, according to REC CMD Vivek Kumar Dewangan.

This was one of Deutsche Bank’s first green loan transactions through its Gift City office to be made in yen.

The CEO of Deutsche Bank Group, India, Kaushik Shaparia, stated, “Our partnership with REC highlights our unwavering commitment to advancing environmentally responsible initiatives and promoting sustainable financing within India.”

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