Mahindra Susten has secured financing of Rs 8.75 billion for its 150.80 MW hybrid renewable energy project in Maharashtra. The project is being developed by Gelos Solren Private Limited, a subsidiary of Mahindra Susten, under the group captive off-take arrangement.
The financial closure follows the execution of a binding financing agreement with the Export-Import Bank of India (Exim Bank), which will act as the sole lender and provide the entire debt requirement under its Sustainable Finance Programme.