19601
post-template-default,single,single-post,postid-19601,single-format-standard,elision-core-1.0.10,everest-forms-no-js,ajax_fade,page_not_loaded,qode-child-theme-ver-1.0.0,qode-theme-ver-4.4,wpb-js-composer js-comp-ver-6.3.0,vc_responsive
Title Image

Blog

07 August
0

Apraava Energy signs MoUs worth $1.1 billion with REC and PFC

admin   |   Uncategorized

Apraava Energy will use the funds to develop its wind, transmission, and advanced metering projects.

Apraava Energy, an integrated energy solutions provider, has signed Memorandum of Understanding (MoUs) with Rural Electrification Corp. (REC) and Power Finance Corp. (PFC) for financial assistance worth INR 9,120 crore ($1.1 billion) to develop wind, transmission, and advanced metering infrastructure (AMI) projects in the country.

Founded in 2002, Apraava has a portfolio comprising 3,150 MW of installed power generation capacity (924 MW wind and 250 MW solar energy projects) across seven states, a 1,320 MW coal-fired super-critical power plant, and two power transmission assets. 

Apraava has also diversified into newer areas of the energy value chain, such as transmission and advanced metering. Going forward, the company aims to invest in low-carbon growth areas, including renewable energy, power transmission and distribution, and other non-generation, customer-focused energy businesses.

Apraava Energy is jointly owned by the CLP Group, one of the largest investor-owned power businesses in Asia, and Caisse de dépôt et placement du Québec (CDPQ), a global investment group.