REC INKS THREE STRATEGIC MOUS IN BACKDROP OF MADHYA PRADESH GLOBAL INVESTORS SUMMIT 2023

Madhya Pradesh Global Investors Summit 2023 draws interest both at the national and international stage

REC inked first MoU with MP Power Management Company Limited (MPPMCL), to extend financial assistance of ₹15,086 crores

Second MoU with Rewa Ultra Mega Solar Ltd. (RUMSL) wherein REC will commit a sum of ₹1,000 crores as financial assistance for renewable energy projects

REC in partnership with World Bank has designed a financing facility for select state owned electricity distribution companies

The summit witnesses participation from more than 314 companies

REC Limited inked strategic MoUs in the backdrop of the Madhya Pradesh Global Investors Summit 2023. The first MoU was signed with the MP Power Management Company Limited (MPPMCL), to extend financial assistance of ₹15,086 crores for upcoming Sarani and Amarkantak thermal power projects, system improvement works, technology upgradation, renovation & modernization etc. The second MoU was inked with Rewa Ultra Mega Solar Ltd. (RUMSL) wherein REC will commit a sum of ₹1,000 crores as financial assistance for renewable energy projects covering the development of renewable energy parks/projects, and/or associated infrastructure including power evacuation. RUMSL has been designated as Solar Power Park Developer (SPPD) by the Ministry of New and Renewable Energy (MNRE) to develop large-scale solar parks in the state of Madhya Pradesh.

This project will be a key addition to realize the renewable energy targets of Madhya Pradesh. The state aims to generate 20% of its electricity through renewable sources by financial year 2024, 30% by FY 2027 and 50% by FY 2030. REC has the vision to become a leading financial services provider in the renewable energy space.

The summit has drawn interest both at the national and international stage and witnessed participation from more than 314 companies. Additionally, REC in partnership with World Bank has designed a financing facility for select state owned electricity distribution companies. As a part of this REC-World Bank program, the total volume of financing available shall be USD 1 Billion. Under this umbrella REC committed an amount of ₹5,000 crores been committed to MP DISCOMs to further strengthen the distribution reforms.

TELANGANA: SC CORP TO PROVIDE TRAINING FOR YOUTH IN SOLAR PANEL INSTALLATION

The training would be given to unemployed SC youth for a period of three months at the Rural Institute for Skill Empowerment training centre located at Madhapur

With renewable energy, especially solar energy, growing at a faster rate and the demand for solar panels on a rise in the State, the Telangana Scheduled Castes CoOperative Development Corporation Limited has taken up an initiative to train youth belonging to SC communities in solar panel installation. It has joined hands with the Rural Institute for Skill Empowerment (RISE) to impart skill development and training in solar system installation and computers. According to officials of the corporation, the training would be given to unemployed SC youth for a period of three months at the Rural Institute for Skill Empowerment training centre located at Madhapur. The entire cost of the training programme, including accommodation and food, would be borne by the corporation. The minimum qualification for getting into the training programme is 10th class or intermediate pass and the candidate should be between 18-25 years of age, the official informed.

During the training session, the youth would be trained on technical skills, soft skills and communication by expert and tenured trainers, an official of the RISE informed. “The training will have classroom sessions as well as hands-on training which is specially designed by RISE,” he said. With the solar energy sector gaining momentum rapidly, there would be great demand for skilled solar panel installers in the country, a senior SC Corporation official stated. “Those willing to start their career in this field need to have hands-on training and knowledge about the solar sector and its finer nuances only then he would be accommodated in good companies. Hence, we decided to train SC youth, ” he revealed.

The fresh batch of 35 candidates would undergo training from January 20. So far three batches have undergone training and most of them have found placements in private companies, the official stated.

Source: PTI

SOFAR REVEALS NEW BRAND IDENTITY AND WEBSITE REFLECTING ITS FOCUS ON A NET-ZERO FUTURE

In line withtwo offline venues, SOFAR also launches a live streaming to reach global audience, which has been rebroadcast by15media platforms. Through the combination of physical event and live streaming, SOFAR emphasizes its commitment toposing a positive impact on building a more sustainable and low-carbon planet, making renewables accessible and available for all.

Simplified from ‘SOFARSOLAR’ to ‘SOFAR’, the company endows its new brand name with new implications. Each letter is taken from a relevant word, ‘S’forsustainable, ‘O’for net-zero, ‘F’for future-proof, ‘A’foraffordable and ‘R’forreliable, which emphasizes its ambition on reshaping the future energy structure with advanced digital energy solutions.

The new wordmark has been modernized in both the color and the font. Adopting aurora green that stands for clean energyand cerulean blue thatrepresents digitalization, the new brand image demonstrates a deep integration of these two elements.

A FUTURISTIC-LOOK WEBSITE, FOR BETTER EXPERIENCE

SOFAR has upgraded its website with afuturisticlook which is optimized to offer visitors smooth, user-friendly and more interactive experience. Employing horizontal switch for the homepage, the new website (https://www.sofarsolar.com/) is able to provide users with a more creative interface. Apart from presenting a comprehensive ecosystem of future digital energy, the new website makes it possible for visitors to see the dynamic product deconstruction and have a more vivid understanding of SOFARsystem solutions.

MEET XIAOHANG, SOFAR’S NEW AVATAR

To everyone’s surprise, SOFAR also unveils its new brand avatar- Xiaohang. Endowed with the characteristics of being lively, enterprising, honest and knowledgeable, this new avatar embodies the spirit of integrity, exploration and consideration of SOFAR, which helps build a brand image with affinity. Stepping into the 10thanniversary of its rapid expansion, SOFAR leadsthePV &Storage technology revolution as one of global TOP5 Hybrid Inverter Suppliers. In 2022, SOFAR launched thepioneering all-in-one residential solar + storage system SOFARPowerAll, bolstering its leading position in PV and energy storage sector. By the end of 2021, SOFARshipped over 1 million inverters to more than 100 countries worldwide, empowering global customers on the journey towards a more sustainable and low-carbon lifestyle.

Upholding the mission of technology drives green energy, we are devoted to making contributions to green transition as the leading provider of digital energy solutions, said Guy Rong, Senior Vice President of SOFAR. “In the future, we will keep focusing on renewable energy technologies, making investmentin R&D and adhering to innovation-driven growth, thus bringing forth our sustainable, net-zero, future-proof, affordable and reliable solutions for more communities.” Rong concluded.