Serentica Renewables secures Rs 5,600 cr funding from REC, PFC

Serentica Renewables said that it has raised Rs 5,600 crore funding from state-owned firms REC and PFC
Serentica Renewables secures Rs 5,600 cr funding from REC, PFC
Serentica Renewables secures Rs 5,600 cr funding from REC, PFCEnergy Watch
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New Delhi: Serentica Renewables said on Monday that 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.

'With funding, Serentica will accelerate development of phase-I projects'

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 Renewables secures Rs 5,600 cr funding from REC, PFC
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Serentica is planning to develop 4 GW of renewable energy capacities across the country to deliver round-the-clock green energy to 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 commercial and industrial sector (C&I) focused renewable energy developer in India.

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