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Apraava Energy inks pacts with REC, PFC to secure Rs 9,120 cr funding

Tuesday, 08 Aug 2023
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Energy solutions provider Apraava Energy has signed memorandums of understanding (MoUs) with REC and Power Finance Corporation (PFC) to secure Rs 9,120 crore funding for its wind, transmission and advanced metering projects in India.

With this partnership, the company aims to deliver sustainable and integrated growth, as it has diversified into areas of the energy value chain, including transmission and advanced metering to accelerate the transition to a greener economy.

On 21 July, 2023, the signing of MoUs took place as part of the Green Finance Summit organised by REC on the sidelines of the Green Business Summit Clean Energy Ministerial and the Energy Transition Working Group Ministerial held in Goa.

Apraava Energy is a jointly-owned company by the CLP Group, an investor-owned power business, and Caisse de depot et placement du Quebec (CDPQ), a global investment group.

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