PFC, REC to lend Rs.5 Lakh Cr to green energy cos

Power Finance Corporation Ltd (PFC) and REC Ltd (formerly Rural Electrification Corporation Ltd) have signed agreements with major clean energy companies for providing a total of INR 5 lakh crore funds to their projects. PFC signed pacts worth INR 2.37 lakh crore with 20 companies in the clean energy space. REC, on the other hand, tied up for INR 2.75 lakh crore on the sidelines of the G20 Clean Energy Ministerial conference. The borrower companies included Adani, Greenko, ReNew, ACME, Continuum, Avaada, JBM Auto, Megha Engineering & Infrastructure Ltd, and Rajasthan Renewable Energy among others.