New Delhi: State-run REC will lend as much as ₹1.2 trillion for the set up of rooftop photo voltaic panels beneath the Pradhan Mantri Suryoday Yojana.
Talking to the media on Tuesday, the chairman and managing director (CMD) of REC, Vivek Kumar Dewangan stated that the corporate has been designated because the programme implementation company for the implementation of the scheme and its board of administrators has permitted letters of credit score of about ₹15,000 crore every for eight central public sector undertakings would arrange the rooftop panels throughout states.
“The ministry of recent and renewable power has designated REC as the general programme implementation company for implementation of rooftop photo voltaic within the nation and we’ve been given a goal of 1 crore households to be coated in a interval of 1 12 months. Its a difficult job as a result of we should coordinate with a number of stakeholders homeowners of rooftop, distribution corporations, distributors, financing corporations. A few of the central public sector enterprises beneath the ministry of energy have additionally been allotted completely different states. The will even be proactively doing this rooftop photo voltaic set up beneath RESCO mannequin (renewable power service firm),” he stated.
Stressing that the rooftop photo voltaic installations would assist the corporate develop its renewable power portolio, the CMD stated: “Right now in our board assembly board has licensed administration of REC to difficulty Line of Credit score to the central public sector undertakings that are going to behave as renewable power companies corporations to the tune of about ₹15,000 crore. There are eight CPSEs who’re going to implement this photo voltaic rooftop. If we’re capable of give line of credit score of ₹15,000 crore to every firm, we’re dedicated that we will give line of credit score upto ₹1.20 lakh crore for rooftop photo voltaic mission.” He added that the ministry of recent and renewable power would give you tips for the scheme.
Prime Minister Narendra Modi on Monday had introduced to launch the scheme to offer rooftop photo voltaic installations to 10 million households within the nation.
Addressing reporters, the REC CMD additionally stated that thus far this fiscal, the corporate has sanctioned about ₹1.25 trillion for the renewable power sector.
For the quarter ended December, the corporate has reported a internet revenue of ₹3,269.31 crore, 13.6% larger on a year-on-year foundation. In the course of the corresponding quarter of the earlier fiscal, the corporate had reported a internet revenue of ₹2,878.08 crore.
Its whole income from operations in the course of the third quarter of FY24 beneath assessment stood at ₹11,981.65 crore, 23.58% larger from ₹9,694.89 crore the quarter ended December of the final fiscal.
General sanctions in the course of the quarter beneath assessment was ₹1.32 trillion, with a virtually three-fold progress from ₹47,712 crore within the 12 months in the past interval.
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Printed: 23 Jan 2024, 11:57 PM IST
