Cleantech Solar has secured a long-term senior secured Rs 855 crore long-term green finance loan from Aseem Infrastructure Finance Limited.
The rupee term loan (RTL) will be used to advance its open access commercial and industrial (C&I) portfolio in India.
Cleantech will use the loan for the open-access solar and wind park development, construction, and operation projects.
According to the company, corporate clients will purchase power on a captive basis for their business operations from these renewable energy parks. These projects will benefit clients from the iron and steel, automotive, chemical manufacturing, and real estate industries.
Mr. Virender Pankaj, CEO, Aseem Infrastructure Finance Limited, said, “We are dedicated to driving the growth of the renewable energy sector by offering customized debt financing solutions tailored to our clients. As a testament, The current debt solution was designed to finance a C&I project with approximately 253 MWdc capacity across 13 SPVs across four states and diverse off taker compositions. The collaboration with Cleantech Solar reiterates our dedication to sustainability and our confidence in the transformative potential of renewable energy projects.”
Mr. Sachin Jain, CEO of Cleantech Solar, said, “The green financing from Aseem Infrastructure Finance will accelerate the implementation of our open access renewable energy projects in India. It will help advance towards a more resilient and environmentally conscious energy landscape, driving positive change for both the industry and the planet.”
