REC sanctions Rs 3,081 cr for Serentica Renewables’ 560 MW Solar-Wind Hybrid Project, ET EnergyWorld

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New Delhi: REC Limited, a Maharatna company, has sanctioned debt funding of over Rs 3,081 crore to Serentica Renewables for a 560 MW peak greenfield solar-wind hybrid project in Gadag, Karnataka. The documentation has already been inked and disbursement of funds is also in advance stages.

This move aligns with India’s COP26 commitments and recent G20 pledges to accelerate the transition to renewable energy. REC Limited aims to achieve a green finance loan book of Rs. 3 lakh crore by the fiscal year 2030.

Vivek Kumar Dewangan, CMD at REC Limited, said, “We are proud to be at the forefront of India’s journey towards a sustainable energy future. Our partnerships and collaborations are a testament to our commitment to align with global visions for a cleaner and greener planet. REC envisions itself as the leading financing partner for India’s energy transition, contributing significantly to the global mission of ‘one world, one family, one future’ as outlined by the G20.”

As India and the global community make strides toward cleaner energy, REC Limited continues to play a pivotal role in India’s energy transition.

  • Published On Sep 16, 2023 at 04:18 PM IST

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