New Delhi: State-owned REC Ltd on Wednesday said it has received a loan of 31.96 billion Japanese yen (equivalent to US$200 million) from Deutsche Bank's GIFT City branch to finance green energy projects in India.
According to a statement, REC has taken out a green loan of JPY 31.96 billion (equivalent to US$200 million). This facility is a first of its kind collaboration between a Government of India entity and Deutsche Bank AG, GIFT City Branch.
The facility is one of the first JPY-denominated green loan transactions for Deutsche Bank AG, GIFT City.
Vivek Kumar Dewangan, CMD of REC Limited, said in the statement, “This successful transaction is in line with REC's capabilities in green energy financing and sustainable projects as well as its commitment to enhancing the global community's support for sustainable development projects in India. The benchmark transaction is expected to pave the way for more such collaborations in the future that can help achieve the country’s goals in green space financing.”
Kaushik Shaparia, CEO, Deutsche Bank Group, India, said, “Our collaboration with REC underlines our strong commitment to pursuing environmentally responsible initiatives and promoting sustainable financing within India. This transaction is a green “Strengthens Deutsche Bank’s expertise in financing, demonstrating our ability to support clients.” in their transition towards a carbon-free future."
According to a statement, REC has taken out a green loan of JPY 31.96 billion (equivalent to US$200 million). This facility is a first of its kind collaboration between a Government of India entity and Deutsche Bank AG, GIFT City Branch.
The facility is one of the first JPY-denominated green loan transactions for Deutsche Bank AG, GIFT City.
Vivek Kumar Dewangan, CMD of REC Limited, said in the statement, “This successful transaction is in line with REC's capabilities in green energy financing and sustainable projects as well as its commitment to enhancing the global community's support for sustainable development projects in India. The benchmark transaction is expected to pave the way for more such collaborations in the future that can help achieve the country’s goals in green space financing.”
Kaushik Shaparia, CEO, Deutsche Bank Group, India, said, “Our collaboration with REC underlines our strong commitment to pursuing environmentally responsible initiatives and promoting sustainable financing within India. This transaction is a green “Strengthens Deutsche Bank’s expertise in financing, demonstrating our ability to support clients.” in their transition towards a carbon-free future."
