Apraava Energy has signed preliminary agreements with state-owned enterprises REC Ltd and Power Finance Corporation (PFC) to get Rs 9,120 crore in financing for wind, transmission and advanced metering projects in the country.

The MoUs were signed as part of the Green Finance Summit, which was held on the sidelines of the Green Business Summit Clean Energy Ministerial (CEM) and Energy Transition Working Group (ETWG) Ministerial on July 21, 2023 in Goa, against the backdrop of India's G20 Presidency, according to a company statement.

Apraava Energy signed the Memorandum of Understanding (MoUs) with REC Ltd and PFC for financial assistance worth Rs 9,120 crore ($1.1 billion), the company said.

Rajiv Ranjan Mishra, Managing Director, Apraava Energy, said in the statement, "This partnership further strengthens our roadmap to deliver sustainable and integrated growth in the future. We thank REC and PFC for placing their trust in our aspirations for a better world."

Over the last few years, Apraava has diversified into newer areas of the energy value chain such as transmission and advanced metering that will support the acceleration of the transition to a greener economy in India.