Indian infrastructure lender REC has signed non-binding agreements worth approximately ₹1.12 trillion ($13.37 billion) with renewable energy developers to finance the expansion of renewable energy capacities. This initiative aligns with the Indian government's goal to increase clean energy generation to at least 500 gigawatts by 2030 to mitigate emissions. The agreements, signed at an industry conference in Gujarat, encompass projects across various sectors, including solar, wind, and battery energy, though specific company details were not disclosed. REC aims to grow its renewable energy loan book to over ₹3 trillion by 2030, raising the share of renewables in its portfolio from 8% to 30%. The total loan book is projected to reach ₹10 lakh crore by 2030, indicating a significant shift towards non-fossil fuel-based energy generation. This commitment is part of a broader push by Indian companies to enhance their renewable energy investments.