Serentica Renewables secures Rs 5,600 crore funding

NEW DELHI: Serentica Renewables on Monday said it has raised Rs 5,600 crore funding from state-owned firms REC and PFC. It has raised Rs 3,000 cr debt funding from REC and Rs 2,600 cr debt funding from PFC, it 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, CMD, REC said. Pratik Agarwal, director, Serentica said, “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...”