State-run hydropower producer SJVN has secured a JPY 15 billion (approx. INR 915 crore) loan from Japanese banks to finance its 90 MW Omkareshwar floating solar project in Madhya Pradesh and 100 MW Raghanesda solar project in Gujarat. The combined cost of these projects is estimated at INR 1,288.35 crore.
While 60 % of the debt arranged will be financed by the Japan Bank for International Cooperation (JBIC), the balance will come from commercial banks of Japan, viz, MUFG Bank and San-in Godo Bank.
The two projects being financed by JBIC are scheduled for commissioning in the year 2023 itself and will produce about 450 million units of electricity in their first year of operation.
For this green finance, SJVN and JBIC virtually inked the ‘Facility Agreement’ under JBIC’s Global action for Reconciling Economic growth and Environmental preservation (GREEN) program.
SJVN targets 25 GW of power generation capacity by 2030, more than half of which is bound to come from solar and wind resources. It emphasized more association with JBIC for green financing in the near future.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: firstname.lastname@example.org.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.