REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power, has been honored with the prestigious Best Green Bond – Corporate Award at The Asset Triple A Awards for Sustainable Finance 2024. The award recognizes REC’s outstanding contribution to sustainable finance through the issuance of Green Bonds.
Green Bond Issuance
REC secured the award for its issuance of $750 million USD Green Bonds in April 2023. This marked a significant milestone as it was the first USD Green Bond issuance from India after assuming the G20 Presidency and the largest Senior Green Bond Tranche by a South or South-East Asian issuer. The bond issue garnered positive investor response, showcasing REC’s commitment to financing projects addressing climate change and promoting environmental sustainability.
Significance of the Award
The award underscores REC Limited’s dedication to sophisticated capital market instruments and customized financing solutions, emphasizing its role in advancing sustainable finance and environmental stewardship. This recognition highlights REC’s commitment to supporting initiatives that contribute to positive environmental impacts and sustainable development.
Chairman & Managing Director’s Statement
Shri Vivek Kumar Dewangan, Chairman & Managing Director of REC Limited, expressed delight at receiving the award. He emphasized REC’s commitment to sustainable finance and its efforts to accelerate the transition towards a greener and more sustainable future at competitive costs. He also highlighted REC’s issuance of Euro-Yen Green bonds in January 2024, reinforcing its dedication to promoting green and clean energy.
Multiple-Choice Questions (MCQs) with Answers:
- What award did REC Limited receive at The Asset Triple A Awards for Sustainable Finance 2024?
- A) Best Power Enterprise Award
- B) Best Green Bond – Corporate Award
- C) Sustainable Finance Excellence Award
- D) Maharatna Enterprise Recognition
- Answer: B) Best Green Bond – Corporate Award
- For what achievement did REC Limited receive the award?
- A) Largest Power Generation
- B) Largest Senior Green Bond Tranche in Asia
- C) Highest Investor Response
- D) First USD Green Bond Issuance from India
- Answer: D) First USD Green Bond Issuance from India
- What does the award emphasize about REC Limited’s commitment?
- A) Technological Innovation
- B) Customized Financing Solutions
- C) Market Expansion
- D) Regulatory Compliance
- Answer: B) Customized Financing Solutions
- Which sector has REC diversified into, apart from Power Infrastructure?
- A) Manufacturing
- B) Information Technology
- C) Non-Power Infrastructure
- D) Agriculture
- Answer: C) Non-Power Infrastructure
- Who is the Chairman & Managing Director of REC Limited?
- A) Shri Vivek Kumar Dewangan
- B) Shri Prakash Javadekar
- C) Shri Narendra Modi
- D) Shri Rajnath Singh
- Answer: A) Shri Vivek Kumar Dewangan