SJVN Procures ‘GREEN’ Finance from Japan Bank for International Cooperation Worth INR 915 crore
The ‘Facility Agreement’ was inked through virtual platform between SJVN and JBIC under the Global Action for Reconciling Economic Growth and Environmental Preservation (GREEN) policy of JBIC.
March 29, 2023. By EI News Network
The ‘Facility Agreement’ was inked through virtual platform between SJVN and JBIC under the Global Action for Reconciling Economic Growth and Environmental Preservation (GREEN) policy of JBIC.
The objective of this loan is to finance the 90 MW Omkareshwar Floating Solar Power Project in Madhya Pradesh and 100 MW Raghanesda Solar Power Project in Gujarat, which have a consolidated evaluated worth of approximately INR 1,288.35 crore.
Both projects that are presently being funded by JBIC, are slated to be commenced in the year 2023 and are antipated to produce notably about 450 MU of electricity in the opening year.
Considerably, 60% of the loan will be funded by JBIC, the rest of the balance amount will be aided by commercial banks in Japan including MUFG Bank and San-in Godo Bank.
SJVN targets to accomplish a generation potential of 25 GW by year 2030, with over half of the potential anticipated to derive from solar and wind energy resources.
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