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SJVN Secures ‘GREEN’ Financing Worth Rs 915cr from Japan Bank

SJVN has secured GREEN financing from Japan Bank for International Cooperation (JBIC) amounting to JPY 15 billion (approx. Rs 915 crore). The loan is co-financed with other private financial entities in Japan.

 

SJVN and JBIC inked the ‘Facility Agreement’ via virtual mode, under the Global Action for Reconciling Economic growth and Environmental Preservation (GREEN) programme of JBIC. The project financing is towards 90 MW Omkareshwar floating solar power projectin Madhya Pradesh and 100 MW Raghanesda solar power project in Gujarat, which have a combined estimated cost of Rs 1288.35 crore.

 

SJVN plans to achieve 25 GW of generation capacity by 2030, of which solar and wind resources will contribute nearly half of the output.

 

The two projects currently being financed by JBIC are scheduled for commissioning in 2023 itself, and will produce about 450 MU of electricity in the first year of operation.

 

Further, 60 percent of the debt will be financed by JBIC itself, and the balance will be provided by commercial banks of Japan viz. MUFG Bank and San-in Godo Bank.

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