REC Designated As Implementation Agency For Rooftop Solar Programme

REC Ltd. has been designated as the overall programme implementation agency for the rooftop solar programme by the Ministry of New and Renewable Energy.

The infrastructure financing company is also entrusted with the responsibility for the execution of the scheme and coordination with all stakeholders, according to an exchange filing on Thursday.

The scheme aims to achieve a cumulative capacity of 40,000 megawatts from rooftop solar panels by 2026, according to the Maharatna company.

REC provides long-term loans and other financing products for the creation of infrastructure assets in the country.

Shares of REC closed 0.29% lower at Rs 425.2 apiece, as compared with a 0.44% decline in the benchmark BSE Sensex.