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REC to Fund 30-40% of 94 GW Coal-Based Capacity: CMD Vivek Dewangan

The CMD further informed investors that around 94 gigawatts of capacity have been identified to be brought in by the year 2032
Indian Masterminds Stories

During a recent investor call, the state-run Rural Electrification Corporation Limited’s Chairman and Managing Director (CMD) Vivek Kumar Dewangan stated that the company intends to fund 30-40 percent of the 94 GW of coal-based capacity that is scheduled to be built by 2032. “The Indian government has decided that renewable energy is intermittent and there are no natural gas resources. As a result, coal-powered capacity will provide the base load,” he said.

Additional coal-based capacity will only be required in brownfield projects. The CMD further informed investors that around 94 gigawatts of capacity have been identified to be brought in by the year 2032.

“We will be able to share about 30 to 40 percent of this coal-based capacity. Additional capacity will be coming in the next eight years,” he added.


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