REC ties up debt funding of Rs 60.75 billion to Greenko for 1,440 MW PSPs

REC Limited has extended Rs 60.75 billion to Greenko for the development of 1,440 MW standalone pumped storage projects (PSPs). A number of clean energy projects will also receive financial support from REC Limited and are currently in discussions with Greenko. According to the Central Electricity Authority’s national electricity plan, between 2022 and 2032, the installed renewable energy capacity is expected to increase by almost four times overall, including seven, five and a half, and three times from, solar, pumped storage, and wind, respectively.