Debt

Debt financing

Greenko raises Rs 5,500-Cr loan for first off-river power storage project

Economic Times  

Renewable energy firm Greenko has tied up a INR 5,500 crore loan from Power Finance Corporation (PFC) to build India's first off-river energy storage project in Andhra Pradesh. The 20-year loan has been priced at 11% per annum interest and the power generator will have to start repaying the loan only after the project has been commissioned. Greenko, which is majority owned by Singapore's sovereign wealth fund GIC, is developing around 8 gigawatts of renewable energy capacity. It counts among its other investors Japan's Orix and Abu Dhabi Investment Authority.