Serentica Renewables Secures Rs 5,600 Crore Funding from REC and PFC

26 Sep 2023 , 03:15 PM

Serentica Renewables secures Rs 5,600 crore in funding from REC and PFC, state-owned firms. The funding comprises Rs 3,000 crore debt funding from REC and Rs 2,600 crore debt funding from PFC, according to the company’s statement.

REC aims to enhance its role in financing green projects, aligning with energy transition goals, as stated by Vivek Kumar Dewangan, Chairman and managing Director REC. Pratik Agarwal, Director of Serentica, highlights the funding will accelerate the development of their initial projects, aiding energy-intensive industries in achieving a net-zero future.

Serentica’s commitment involves developing 4GW renewable energy capacities nationwide, catering to constant green energy requirements. The portfolio’s annual supply will surpass 9 billion units (BUs) of clean energy, offsetting 8.5 million tonnes of CO2. Established in 2022, Serentica stands as a prominent renewable

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