Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Insolation Energy has informed that the company has been sanctioned External Commercial Borrowings (ECB) of USD 2.5 Million (amounting approx. Rs 20.7 Crore) from the Energy Access Relief Fund B.V. (EARF), Netherlands. The same has been approved by its Board of Directors. After taking all requisite approvals from all the authorities the Loan agreement is executed and Loan Registration Number is received as well. The said ECB will be utilized for the manufacturing activity and modernization of the Company and its wholly-owned subsidiary aiming for growth and expansion for the company.
The above information is a part of company’s filings submitted to BSE.
