Renew Energy signs initial pacts with PFC and REC for loans worth Rs 640 billion

ReNew Energy Global Plc has signed initial pacts with Power Finance Corporation Limited (PFC) and REC Limited for loans worth Rs 640 billion.

Public sector energy funders will lend Rs 320 billion each to the company for financing its current and upcoming energy transition projects. The company will utilise the funds for new projects, including solar, wind, hybrid, energy storage, solar modules and cell manufacturing, and green hydrogen.