ReNew Energy Global has signed Memorandums of Understanding worth INR 640B with Power Finance Corporation and Rural Electrification Corporation for its green energy projects. According to the MoUs signed with the lenders at the Clean Energy Ministerial meeting in Goa, ReNew will receive INR 320B each from PFC and REC for financing its current and upcoming energy transition projects. The MoUs support the ongoing efforts to further the clean energy transition under India’s G20 presidency. The company will utilize the funds for new projects including solar, wind, hybrid, energy storage, solar modules and cells manufacturing and green hydrogen.
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