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00:00We are in an exclusive conversation with the Chairman Managing Director, Vivek Kumar Devangan
00:06and actually Vishwanath Nair is leading that conversation.
00:10So let's quickly go in, dip in, listen in to that conversation.
00:15Some kind of indication globally, hopefully that will translate into lower cost of funds in India as well.
00:20I just want to get your viewpoint, you know, as a company that is in the leverage business,
00:25how are you looking at cost of funds evolving?
00:29We hope that going forward the cost of funds may come down.
00:34We are waiting for U.S. Fed rate, which is likely to be announced today.
00:39And we have kept our borrowing mix, judicious borrowing mix.
00:43We keep raising funds through corporate domestic bond.
00:47We do take domestic term loan from the banks and we also take external commercial borrowing.
00:53And our 54 EC bond is the cheapest source of fund available.
00:57We keep a judicious mix of our borrowing profile so as to not depend on a single source of borrowing.
01:04Just for my understanding, sir, so if a company such as yourself does decide to go down the deep discount route,
01:11you know, eventually when the rates do come down, does that not pose a bit of a mismatch on the cost front?
01:19Yeah, that's what I told you. We have not taken a call on this issue.
01:23We are exploring all the available options, keeping short term, long term, medium term requirement,
01:29our fund requirement, and we will take action or decision accordingly.
01:34Okay. There was also a statement to the exchanges which talked about REC signing a large number of MOUs,
01:41specifically in the renewable space. You signed about one lakh crore,
01:45above one lakh crore, about 1.12 is what we learned from that statement.
01:50What is this focused on? How exactly are these MOUs going to be implemented, sir?
01:55This RE investor has been organized by the Ministry of New and Renewable Energy
02:00and REC has given a letter of commitment that is called Shabad to MNRE,
02:06stating that we intend to increase our renewable energy portfolio to about 3 lakh crore by the end of 2030.
02:13In this direction, we were able to sign MOUs worth 1.12 lakh crore with various companies.
02:21These projects pertain to solar, wind hybrid projects, storage solutions, pump storage hydro projects,
02:28battery energy storage projects, C&I operations, electric mobility, green hydrogen, green ammonia,
02:35solar module manufacturing, wind turbine manufacturing,
02:38entire gamut of the green projects we have covered in these MOUs.
02:42Okay, fair enough. There is also the entire EV ecosystem that you are looking to finance.
02:47At some point, I think discussions for that are still on according to that statement that you issued.
02:52Yes, we have already financed about 10,000 electric buses and we are looking for another 40,000 electric buses to be financed.
03:00It will depend on the state transport release which are inviting bids from the prospective OEMs
03:07and the operators of the electric buses.
03:09Once their agreement is signed, then we will consider financing those electric buses also.