SJVN has secured GREEN Financing from Japan Bank for International Cooperation (JBIC) amounting to JPY 15 billion (around Rs 915 crore). The loan is co-financed with Japanese private financial institutions. SJVN and JBIC have virtually inked the ‘Facility Agreement’ under Global action for Reconciling Economic growth and Environmental preservation (GREEN) programme of JBIC.
The objective of incumbent debt to finance 90 MW Omkareshwar Floating Solar Power Project in the state of Madhya Pradesh and 100 MW Raghanesda Solar Power Project in the state of Gujarat having combined estimated cost of Rs 1288.35 crore.
The two projects presently being financed by JBIC are scheduled to commission in the year 2023 itself and will produce about 450 MU of electricity in their first year of operation. While 60% of the debt arranged will be financed by JBIC itself, balance will come from Commercial Banks of Japan viz. MUFG Bank and San-in Godo Bank.
SJVN’s principal business activity is electricity generation. The company is also engaged in the business of providing consultancy.
