REC Pledges $1 Million Contribution Towards International Solar Alliance

In presence of the Power Minister R K Singh, REC’s Director (Technical) S K Gupta and other senior officials from the two organizations, the REC Chairman and Managing Director P V Ramesh handed over the cheque to Interim Director General of ISA Upendra Tripathy.

ISA

Rural Electrification Corporation, (REC) a state-run power sector financier has announced to pump in $ 1 million in the India-led International Solar Alliance (ISA).

According to REC statement, “In view of the World Environment Day 2018, REC contributed USD one million to the International Solar Alliance, (ISA) becoming a corpus contributor.”

In presence of the Power Minister R K Singh, REC’s Director (Technical) S K Gupta and other senior officials from the two organizations, the REC Chairman and Managing Director P V Ramesh handed over the cheque to Interim Director General of ISA Upendra Tripathy.

The pact was inked on June 4 at the World Environment Day exhibition at Vigyan Bhawan in New Delhi.

“The REC is extremely proud to partner with ISA and promotes sustainability through global collaboration, especially with India hosting the World Environment Day this year,” Ramesh said.

Apart from financing projects in the power sector value chain of the country REC is also increasing its energy portfolio in renewable energy and is entering into the storage infrastructure and e-vehicle industry.

ISA is to provide a dedicated platform for cooperation among solar resource-rich countries where the global community, including bilateral and multilateral organizations, corporates, industry, and other stakeholders, can make a positive contribution to assist and help achieve the common goals of increasing the use of solar energy in meeting energy needs of prospective ISA member countries in a safe, convenient, affordable, equitable and sustainable manner.

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