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REC to Explore Nuclear Energy, Expand Renewable Portfolio

State-owned non-banking financial company REC is planning to enter the nuclear power space within the next two to three years. The company is looking at small modular reactors and sees a lending opportunity in the Rs10-12 lakh crore range, focusing on financing public sector companies that will undertake nuclear power projects. Alongside this, REC is continuing to finance conventional thermal power projects, in line with the government’s target to add 95 GW of thermal capacity by 2031-32 to meet rising energy demand.

Further expanding its reach in the renewable energy sector, REC is targeting a 30% portfolio in renewable projects by 2030, up from the current 10%. This includes financing for solar, wind, hydro, and green hydrogen projects. Currently, REC’s exposure to renewable energy projects stands at Rs53,000 crore.

In its Q4 FY25 results, REC reported a 5.6% increase in its consolidated net profit, reaching Rs4,309.98 crore. Its assets under management grew to Rs25.66 lakh crore and the company aims to double this to Rs10 lakh crore by 2030. REC is also focusing on reducing non-performing assets (NPA) and becoming net-zero NPA by FY26.