Daily News-Wrap Up: PFC Loans ₹6.33 Billion for EV Deployment
ReNew Energy subsidiary raises $400 million via green bonds
April 24, 2023
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Power Finance Corporation has approved a loan of ₹6.33 billion (~$77 million) to Gensol Engineering for the purchase of 5,000 passenger electric vehicles (EVs) and 1,000 cargo EVs to expand its green mobility footprint. The four-wheeler passenger EVs will be leased to electric ride-hailing platform BluSmart Mobility to expand its fleet of cabs and are expected to help mitigate more than 100,000 tons of carbon emissions annually.
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