Vibrant Energy Secures INR 2200 Crore from PFC for 300 MWac Wind Solar Hybrid Projects

Vibrant Energy (Vibrant), a leading owner and developer of corporate renewable energy solutions has secured over INR 2,200 crores of project financing from Power Finance Corporation Ltd. (PFC) for the construction of 300 MWac of wind-solar Hybrid projects in Madhya Pradesh and Karnataka. This financing will stand out as one of the largest project financing deals in the Indian Renewables Industry in 2023.

Talking about the development, Srinivasan Viswanathan, CEO, Vibrant Energy, said, "We are excited to partner with Power Finance Corporation in building one of India’s biggest corporate renewable energy projects. This partnership will bring us closer to achieving India’s vision of realizing 500 GW by 2030. We look forward to continuing this partnership and enabling more green energy solutions for Corporate India.” 

Vibrant Energy aims to lead the decarbonisation initiatives for corporate renewable energy customers and help them to attain a more sustainable, resilient, and low-cost energy future. The company is currently operating and delivering more than 2 GW of renewable energy solutions for corporates.

Established in 1986, PFC is the financial backbone of the Indian power sector with a vision to provide affordable and competitive financial products and solutions across the Indian power and allied infrastructure sectors.