Serentica Renewables secures Rs 5,600 crore funding from REC, PFC
Serentica is committed to developing 4GW of renewable energy capacities across the country to deliver round-the-clock green energy needs of its customers.
Serentica Renewables on Monday said it has raised Rs 5,600 crore funding from state-owned firms REC and PFC.
It has raised Rs 3,000 crore debt funding from REC and Rs 2,600 crore debt funding from PFC, the company said in a statement.
“This transaction is in line with REC's expanding role in funding green projects and position itself as the focal agency for energy transition," Vivek Kumar Dewangan, Chairman & Managing Director, REC said.
GST collection rises to Rs 1.67,929 lakh crore in November, records highest growth rate of 15% Y-o-Y
Brand Retention | 82% of existing Lava users likely to purchase next smartphone from same brand: Report
D-Street Newsmakers: Flair Writing, New India Assurance, Ashok Leyland among 10 stocks that hogged limelight today
India, Africa to be major contributors to 112 million barrel/day of peak global crude oil demand in 2030: S&P
Pratik Agarwal, Director, Serentica said, "With the funding secured, we will be accelerating the development of our first phase of projects, which will bring clean energy to hard-to-abate energy intensive industrial consumers and help them move towards a net-zero future." Serentica is committed to developing 4GW of renewable energy capacities across the country to deliver round-the-clock green energy needs of its customers. The overall portfolio will supply more than 9 billion units (BUs) of clean energy annually, offsetting 8.5 million tonne of CO2.
Established in 2022, Serentica is a leading commercial and industrial sector (C&I) focused renewable energy developer in India.