Avaada Energy secures Rs 5.97 billion in refinancing for solar projects

October 21, 2024

Avaada Energy has successfully secured approximately Rs 5.97 billion in refinancing from NIIF Infrastructure Finance Limited (NIIF IFL). The proceeds from the raise will be utilised for its commercial and industrial solar projects in Karnataka and Maharashtra. NIIF IFL is an infrastructure debt fund dedicated to refinancing high-quality operational infrastructure projects. The refinancing from NIIF IFL secured significantly improved commercial terms to facilitate prepayment of existing loan facility and deliver a reduction in finance costs while releasing capital for future deployment.