(FE)
State-owned leading power sector lender REC signed a Memorandum of Understanding with developers of renewable energy for projects worth Rs 1.12 trillion to be implemented over a period of five years.
The agreement signed at the ongoing 4th RE-INVEST entails solar and wind hybrid projects, solar and wind Round the Clock (RTC) project, Firm and Dispatchable RE (FDRE) power, floating solar plants, ultra mega renewable energy park, and hydroelectric power project. In addition to these, the company will also enable financing for battery energy storage systems (BESS), pumped storage, hydropower, green ammonia/hydrogen, and solar cell/module manufacturing.
Discussions are also underway for financing of green energy corridors, wind turbine manufacturing, and EV ecosystem including associated charging infrastructure, the company said. “Further, REC is also open to considering renewable projects by developers for the Commercial & Industrial (C&I) segment having top rated offtakers.”
