Infrastructure lender REC inks renewable energy pacts worth $13.4 bln
Indian infrastructure lender REC has signed agreements worth about 1.12 trillion rupees with renewable energy developers. These non-binding pacts cover projects in solar, wind, hydroelectric, battery energy, and green ammonia sectors. The move aligns with India's goal to add 500 gigawatts of clean energy by 2030 to reduce emissions.
BENGALURU: Indian infrastructure lender REC said on Tuesday it has signed pacts worth about 1.12 trillion rupees ($13.37 billion) with renewable energy developers.
The pacts come as Indian companies look to finance their goal of expanding their renewable energy capacities, with the government aiming to add at least 500 gigawatts of clean energy by 2030 to reduce emissions.
REC said the non-binding memorandum of understandings, signed at an industry conference in the western state of Gujarat, cover projects across sectors including solar, wind, hydroelectric, battery energy and green ammonia.
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Jennifer Winget
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