New Delhi, May 9 -- State-owned non-banking finance company REC Ltd has announced plans to substantially increase its funding for renewable energy projects, targeting a Rs 3 lakh crore exposure by 2030.

REC's broader financial and strategic plan aims to expand its total loan book to Rs 10 lakh crore by 2030, with renewable energy financing expected to account for 30 percent of the projected portfolio.

"Currently, our loan book stands at around 5.67 lakh crore, and we are trying to aim for a loan book of 10 lakh crore by 2030. Out of this, we would like to see the renewable sector touching around 3 lakh crore," REC Chairman and Managing Director Jitendra Srivastava stated in an interview with PTI.

India's renewable energy landscape curr...