Avaada Energy gets Rs 1.190 crore loan for its solar project
Renewable energy firm Avaada Energy has informed about securing a Rs 1,190 crore loan for a new solar project in Gujarat from the State Bank of India (SBI). The 20-year project loan facility will support the development of a 400 MWp utility-scale solar PV power project in the Surendra Nagar district of Gujarat.
This transaction marks Avaada's first endeavor in developing a greenfield project under an existing Special Purpose Vehicle (SPV) that already possesses an operational project.
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