Daily News Wrap-Up_ REC Limited Raises $500 Million Through Dollar Bond Issue

Here are some noteworthy cleantech announcements of the day from around the world:

State-run rural electrification company REC Limited has raised $500 million through a bond issue under its $7 billion Global Medium Term Notes program. The notes will bear interest at the rate of 2.25% per annum and mature on September 1, 2026. The proceeds from the sale of notes will be used for lending to the power sector in line with the external commercial borrowing regulations and directions of the Reserve Bank of India.

Union Environment Minister Prakash Javadekar has said the idea of climate action should not be to move the climate ambition goal post to 2050, and countries need to fulfill their pre-2020 commitments. At the United Nations Security Council Open Debate on ‘Addressing Climate-related risks to international peace and security,’ Javadekar reiterated that developed countries’ commitment to jointly mobilize $100 billion annually by 2020 to support climate action in developing countries had not been realized. He added that there is an urgent need to promote and support the meaningful participation of women and marginalized groups in national-level climate change policy and planning processes.

Deutsche Telekom has partnered with Ericsson to use solar energy for mobile broadband sites. As part of the project, small solar modules were erected at Deutsche Telekom’s mobile facility in Dittenheim, Germany. The tests, carried out in the second half of 2020, showed that solar energy could contribute to over two-thirds of the facility’s total power during peak hours. The project confirms solar energy’s potential as an alternative power source for mobile sites and opens up for other renewable power sources.


Here is our previous daily news wrap-up.