Debt financing
Renewable energy co. Greenko raises Rs.4,800-Cr from NaBFID
Hyderabad-based renewable energy company Greenko Energy Holdings has raised INR 4,800 crore from the National Bank for Financing Infrastructure and Development (NaBFID). The funding was secured through a long-term loan structured for 38 special purpose vehicles (SPVs) within a restricted group framework. The project finance loan has a tenure exceeding 25 years and carries an interest rate between 8% and 8.50%.Greenko Energy Holdings has a net installed capacity of 11 GW across 20 states in India and has initiated integrated renewable energy storage projects in Andhra Pradesh, Madhya Pradesh, and Karnataka.The proceeds will be used to redeem USD 940 million in green bonds issued by its overseas subsidiary, Greenko Dutch B.V., in March 2021, which are set to mature this year.
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