Mahindra Renewables, a wholly owned subsidiary of Mahindra Susten, has achieved financial closure for its 250 MW Solar Power Project (SPP), to be located in Rewa District of Madhya Pradesh with Yes Bank for financial assistance in the form of project debt to the extent of Rs 750 crore and from other financial institutions up to Rs 200 crore.
The project is part of the 750 MW Rewa solar park which is one of the largest solar parks in the world. The 250 MW project of Mahindra Renewables is expected to generate over 525 Million Units and is envisaged to sell approximately 78% of the generated units to Madhya Pradesh Electricity Distribution Utilities and the balance approximately 22% to Delhi Metro Rail Corporation.
Yes Bank is India’s fourth largest private sector Bank with a pan India presence across all 29 states and 7 Union Territories.
