SJVN Secures INR 10,000 Crore Loan for Renewable Projects
The initiative was led by SJVN Green Energy Limited (SGEL), a wholly-owned subsidiary of SJVN Limited, in partnership with SBI Capital Markets Ltd.
December 30, 2023. By Abha Rustagi
The state-owned clean energy company described this achievement as a unique and pioneering transaction, marking the first of its kind undertaken by a PSU entity in collaboration with public sector banks.
The initiative was led by SJVN Green Energy Limited (SGEL), a wholly-owned subsidiary of SJVN Limited, in partnership with SBI Capital Markets Ltd (SBI CAPS), which acted as the sole advisor and arranger for the transaction.
Following extensive discussions and deliberations, proposals from five prominent banks—Deutsche Bank, State Bank of India, Punjab National Bank, Bank of India, and MUFG Bank—were accepted.
The credit facility, of a revolving nature, allows SJVN to draw down funds continuously to meet the construction requirements of its renewable energy projects.
The construction finance facility is poised to play a pivotal role in accelerating the development of SJVN's under-construction renewable energy projects.
NL Sharma, CMD of SJVN, commended the efforts of SBI CAPS and the entire SJVN team for achieving this milestone, emphasizing the significance of the financial support for upcoming renewable energy projects.
The announcement was made at an event organized by SBI CAPS, where key stakeholders were present.
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