REC Limited, one of leading power sector lenders under the aegis of the Ministry of Power, is looking to decarbonise its lending portfolio with more exposure to green energy sectors. The non-banking financial company (NBFC), is looking to increase the share of green energy sectors in its loan portfolio to 30 per cent by 2030, from 6.8 per cent as of now, said Vivek Kumar Dewangan, chairman and managing director, REC Ltd, said.
REC on Wednesday reported a record high growth in its net profit during FY23. The company posted a profit of Rs 11,055 crore during the 2022-23 financial year.
REC’s management said the improvement in credit quality and reduction in non-profitable assets led to growth in profits. The company’s net worth has also growth by 13 per cent year-on-year to Rs 57,680 crore.
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