GreenCell Mobility receives Rs 3,000 crore in debt funding from REC
EverSource Capital promoted GreenCell Mobility, on Monday, said it has signed a Rs 3,000 crore Memorandum of Understanding (MOU) with the public-sector enterprise REC Limited to revolutionize sustainable transportation in India.
“GreenCell Mobility has received unequivocal support from REC, which has agreed to extend crucial financial assistance in the form of debt funding to support the company’s ambitious projects,” GreenCell Mobility said on Monday.
The allocated Rs 3,000 crore will be dedicated to fund the acquisition of 3,000 e-buses and supporting alternative fuel technology buses projects, battery energy storage initiatives, and establishing a robust charging infrastructure network.
