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Cleantech Solar Secures Rs. 6.25bn Green Loan from TCL

Cleantech Solar, a leading provider of renewable energy solutions to corporations in India and Southeast Asia, has secured a long-term senior secured loan facility worth INR 6.25 billion from Tata Capital Limited for its open access portfolio in India. A part of the drawdown has been done and the balance will be done in 2024 for meeting the funding requirements of Cleantech’s under-construction pipeline of open access projects.

 

The Rupee Term Loan (RTL) will be utilized towards construction, development and operations of open access solar and wind parks across different states in India. Cleantech Solar’s focus on expanding its commercial and industrial (C&I) portfolio, currently at 1.2 GWp, aligns with its commitment to sustainable growth. The renewable energy generated from these open access projects will be procured by esteemed corporate consumers on a captive basis to meet their energy needs for manufacturing/business operations. These projects cater to customers across sectors including automotive, FMCG, apparel, industrial equipment and chemical manufacturing, amongst others.

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