REC is looking to shed its erstwhile identity as Rural Electrification Corporation. While it continues to focus on existing schemes, it is looking at a larger shift in its portfolio towards green energy projects, infrastructure segments, and tapping into global climate funds. The non-banking financial company is exploring several ways to reduce the cost of funding renewable energy projects. VIVEK K DEWANGAN, its chairman and managing director, in conversation with Shreya Jai at REC’s new office in Gurugram, talks about the financial sense behind the green shift. Edited excerpts:
REC has recently signed memoranda of understanding (MoUs) worth Rs 2.8 trillion with renewable energy developers. What is the company planning with this grand plan?
The Central Electricity Authority has estimated a