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 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.
Serentica is committed to developing 4GW of renewable energy capacities across the country to deliver round-the-clock green energy needs of its 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 leading commercial and industrial sector (C&I) focused renewable energy developer in India.