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Inox Clean Energy raises Rs.3,400-Cr from NaBFID

Economic Times  

Noida-based Inox Clean Energy, part of the INOXGFL Group, has raised INR 3,400 crore in a 20-year loan from the National Bank for Financing Infrastructure and Development (NaBFID). This financing is for refinancing debt following its acquisition of Vibrant Energy, a renewable energy platform owned by Macquarie Group, at a valuation of USD 200 million.The proceeds from the loan will be used to refinance existing debt in seven of Vibrant Energy's special purpose vehicles (SPVs), which are secured by solar, wind, and hybrid renewable energy projects with long-term power purchase agreements (PPAs) with entities such as Amazon, SIFY, and Ultratech. The loan is expected to be priced between 8% and 8.50%.

For FY25, Inox Clean Energy had reported about INR 78 Cr in Operating Income and about INR 26 Cr in PAT.