Indian lender REC inks renewable energy pacts worth $13.4 bln
BENGALURU, Sept 17 (Reuters) -Indian infrastructure lender REC RECM.NS said on Tuesday it has signed pacts worth about 1.12 trillion rupees ($13.37 billion) with renewable energy developers.
The pacts come as Indian companies look to finance their goalof expanding their renewable energy capacities, with the government aiming to add at least 500 gigawattsof clean energy by 2030 to reduce emissions.
REC said the non-binding memorandum of understandings, signed at an industry conference in the western state of Gujarat, cover projects across sectors including solar, wind, hydroelectric, battery energy and green ammonia.
However, the lender did not mention with which companies it signed the pacts.
REC is targetting to take its renewables loan book to over 3 trillion rupees by 2030, expanding the share of renewables to 30% from 8% currently.
($1 = 83.7410 Indian rupees)
Reporting by Hritam Mukherjee in Bengaluru; Editing by Shreya Biswas
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