Avaada Energy secures Rs 1,190 crore loan from SBI for a 400 MWp solar project in Gujarat.
Avaada Energy secures Rs 1,190 crore ($143 million) loan from the State Bank of India for a 400 MWp solar project in Gujarat. The financing will support the development of the utility-scale solar PV power project in the Surendra Nagar district, with power procurement by Gujarat Urja Vikas Nigam Limited (GUVNL). This marks Avaada's first greenfield project under an existing Special Purpose Vehicle (SPV) with an operational project.
May 02, 2024
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