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Renew Energy Global signs pacts with PFC, REC

22 Jul 2023 Evaluate

Renew Energy Global has signed initial pacts with Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) for loans worth Rs 64,000 crore. The company will receive Rs 32,000 crore ($3.9 billion) each from PFC and REC for financing its current and upcoming energy transition projects, totalling $7.8 billion or Rs 64,000 crore. The company will utilise the funds for new projects, including solar, wind, hybrid, energy storage, solar modules and cell manufacturing, and green hydrogen.

Power Finance Corporation (PFC) is central PSU under Ministry of Power and India's leading NBFC.


Peers
Company Name CMP
Power Finance Corpn. 325.25
REC 299.75
NHIT 168.00
Satin Creditcare Net 224.50
IFCI 64.02
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