REC sanctions Rs 30.81 billion debt funding for Serentica’s 560 MW greenfield solar-wind project

REC Limited has sanctioned debt funding exceeding Rs 30.81 billion for Serentica Renewables for its 560 MW peak greenfield solar-wind hybrid project situated in the Gadag district of Karnataka.

The necessary loan agreements have been executed, and disbursement of funds is currently underway. 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 trillion by 2029-30.