The honor, conferred at an event by the Kendriya Sainik Board at Manekshaw Center, Delhi, on 3rd March 2025, reaffirms REC’s steadfast commitment to the welfare of veterans and their families, exemplifying the vital role of corporate support in national service.

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Talking to NDTV Profit, Dewangan said that the budget announcement will give REC India an additional capacity to disburse loans.

The company is targeting a Rs 3.5 lakh crore renewable energy loan portfolio by 2030, the top executive mentioned. “I am getting that our renewable energy portfolio will also increase substantially by the year 2030,” he said.

We are targeting Rs 2 lakh crore, but if the nuclear energy component gets added, perhaps the renewable energy portfolio will increase to about Rs 3.50 lakh crore by the end of 2030,” Dewangan added. The disbursement trend seen in Q3 will continue to happen in the upcoming quarters, according to the REC CMD. “So this disbursement trend is going to continue because we have a huge pipeline of projects, particularly conventional coal-based generation projects. New projects are coming up, and we already sanctioned those projects,” Dewangan said.

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REC CMD stressed on the role of NBFCs in financing niche sectors that are overlooked by traditional banks. “In response to sector-specific challenges, REC has developed flexible financing models to support renewable energy and greenfield projects, and REC tailors financing to fit the long gestation periods required in power projects. This kind of customization sets NBFCs apart from traditional banks. REC has developed specific products for new emerging technologies like Pumped Storage, E-vehicles, Green Ammonia, Green Hydrogen etc.,” he said.

He closed his remarks by highlighting the potential of NBFCs in transforming India not by replicating banks but by offering complementary services, sectoral expertise, and flexibility.

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He emphasised on how REC, an NBFC with an outstanding loan book worth $4,35,000 crore, is aiming towards achieving the ambitious target of 500 GW power from non-fossil fuel sources.

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