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SJVN Ltd gets Rs.10,000 crore loan from SBI and PNB


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SJVN Ltd has successfully secured a construction finance facility of Rs 10,000 crore ($1.2 billion) to support its upcoming renewable energy projects.

This marks a unique and pioneering transaction for a Public Sector Undertaking (PSU) entity collaborating with Public Sector Banks, as stated in the company’s announcement on Friday.

The initiative was led by SJVN Green Energy Limited (SGEL), a wholly-owned subsidiary of SJVN Ltd, in partnership with SBI Capital Markets Ltd (SBI CAPS). SBI CAPS played a crucial role as the sole advisor and arranger for the transaction on behalf of SGEL. The construction finance facility received overwhelming interest from lenders and was oversubscribed.

Banks Included

After thorough discussions, proposals from five banks—Deutsche Bank, State Bank of India, Punjab National Bank, Bank of India, and MUFG Bank—were accepted. This revolving credit facility allows SJVN to draw down funds continuously as per the construction needs of its projects.

The facility is expected to expedite the development of SJVN’s ongoing renewable energy projects. It aligns with the government’s target of achieving 500 GW of renewable energy by 2030.

The construction financing will be strategically deployed to advance state-of-the-art solar and wind energy projects across India.

Currently, SJVN’s renewable energy portfolio stands at 5,090.5 MW, with 179.5 MW in operation, 1,860 MW under construction, and 3,051 MW in various stages of implementation.

The company is committed to achieving its mission of 12,000 MW by 2026, a shared vision of 25,000 MW by 2030, and an installed capacity of 50,000 MW by 2040. The details of this groundbreaking transaction were disclosed in an event organized by SBICAPS.

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