REC Limited has been designated as the nodal agency for the Pradhan Mantri Suryodaya Yojana to facilitate the installation of rooftop solar systems in 10 million households.
REC will lend up to Rs 1.2 trillion for the installation of these rooftop solar panels. REC’s board authorised a Rs 150 billion line of credit to central public sector undertakings which will act as renewable energy service companies in implementing this scheme. The launch of the rooftop solar scheme by government is expected to propel REC towards surpassing 10 GW of this target within a year.Top of Form