Electrical News
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Suzlon Partners With REC Limited For Non-Fund Based Working Capital Lines
Himanshu Mody, Chief Financial Officer, Suzlon Group said, “We are delighted to partner again with REC Limited, one of India’s finest financial institutions with a deep understanding of power and renewable energy sectors. REC has a clear vision to support India’s ambitious renewable energy targets and has supported the Company’s initiatives in the past through debt refinancing, helping us become debt free. The current facility is non-fund based, which will primarily be off-balance sheet keeping us debt-free while significantly improving commercial terms with our customer and suppliers. This facility is rolling in nature and will allow the Company to execute current and future orders from its marquee customers.”