Reportedly, Serentica Renewables has secured about US$1.19 billion through three financing transactions to support renewable energy capacity expansion, refinance existing debt and fund project development.
The financing includes a US$345.1 million loan from a consortium led by the Asian Development Bank, along with Sumitomo Mitsui Banking Corporation, the New Development Bank and India Exim Bank, for the development and refinancing of a solar-wind hybrid project in Koppal, Karnataka. In addition, the company has raised US$450 million refinancing arranged by Societe Generale and Clifford Capital for a renewable energy project. It has also secured a US$397 million green term loan from Mitsubishi UFJ Financial Group, which is being syndicated to other lenders. Separately, Serentica is reportedly in discussions with Standard Chartered Bank to raise another US$250 million for a special purpose vehicle.
