Cleantech Solar has procured a long-term senior secured loan facility of Rs 6.25 billion from Tata Capital Limited. The funds obtained will bolster Cleantech Solar’s open access portfolio in India. A part of the drawdown has been completed and the rest will be done in 2024 to meet the funding requirements of Cleantech’s under-construction pipeline of open access projects. The rupee term loan will be utilised for the construction, development, and operations of open access solar and wind parks across various states in India. The renewable energy generated from these projects is intended for procurement by corporate consumers on a captive basis, addressing their energy needs for manufacturing and business operations.
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