Avaada Energy closes ₹315 crore financing for captive solar project thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
Avaada Energy secured Rs 315 crore financing from Aseem Infrastructure Finance ltd (AIFL) for a solar project in Karnataka. It will be developed under a long-term captive Power Purchase Agreement (PPA) with Karnataka Milk Federation (KMF).
The financing, sanctioned and disbursed as a 20-year project loan facility, will support the development of a 400 MWp utility-scale solar PV power project in the Surendra Nagar district of Gujarat, a company statement said.
Avaada Energy has secured a Rs 1,190 crore loan from the State Bank of India for a 400 MWp utility-scale solar PV project in Gujarat s Surendra Nagar district. The 20-year project loan facility will support the project s development and procurement by Gujarat Urja Vikas Nigam Limited. This marks Avaada s first venture in developing a greenfield project under an existing Special Purpose Vehicle.
India Business News: Avaada Energy has secured a Rs 1,190 crore loan from the State Bank of India for a 400 MWp utility-scale solar PV project in Gujarat's Surendra Nagar