Cleantech Solar has procured a long-term senior secured loan facility amounting to Rs 6.25 billion from Tata Capital Limited.
The funds obtained will bolster Cleantech Solar’s 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 will be utilised for the construction, development, and operations of open access solar and wind parks across various states in India. The renewable energy generated from these open access projects is intended for procurement by corporate consumers on a captive basis, addressing their energy needs for manufacturing and business operations.
