The Japan Bank for International Cooperation (JBIC) has signed a loan agreement of up to JPY25.5 billion with Power Finance Corporation Limited (PFC).
JBIC will contribute JPY13.5 billion, with the rest co-funded by Sumitomo Mitsui Banking Corporation, the Bank of Yokohama Limited, the Shiga Bank Limited and the Bank of Fukuoka Limited. The loan proceeds will be used to finance 300.3 MW wind energy project of Ostro Kannada Power Private Limited in Karnataka. JBIC will also provide a guarantee for the portion co-financed by the private financial institutions. This loan is part of a credit line established in July 2022 to support renewable energy and energy-efficient projects.
