Greenko Group has secured a Rs 48 billion long-term loan from the National Bank for Financing Infrastructure and Development (NaBFID). The loan has a tenure of 25 years and has been arranged to refinance green bonds worth $940 million that were issued in 2021 and are due for repayment in 2026. The interest rate of the loan is around 8-8.5 per cent.
Furthermore, the loan is linked to 38 special-purpose vehicles (SPV) with an aggregate renewable energy capacity of about 1 GW spanning solar, wind, and hydro assets. These SPVs are structured under a restricted group framework.
Earlier this month, Inox Clean Energy, part of the INOXGFL Group, announced raising of Rs 34 billion through a 20-year loan from the NaBFID to refinance existing debt following the acquisition of Vibrant Energy.
