REC grants loan worth Rs 60.75 billion to Greenko for developing 1,440 MW PSP

REC Limited has sanctioned a loan worth Rs 60.75 billion for Greenko Limited to establish a 1,440 MW standalone pumped storage project (PSP).

REC is also in advanced talks with Greenko for financing several clean energy projects. According to the Central Electricity Authority’s National Electricity Plan, the renewable installed capacity is expected to grow significantly between 2021-22 and 2031-32, offering REC substantial business opportunities and a chance to contribute to the nation’s green financing initiatives in line with global and national renewable energy commitments.