Vena Energy announces financial closure of 176 MW Gudadur hybrid power project

Vena Energy has reached financial closure of the Gudadur hybrid project, a 176 MW solar-wind hybrid renewable energy project in Karnataka.

The project consists of 48 MW of solar capacity and 128 MW of wind capacity, and is expected be commissioned by the fourth quarter of 2023. Upon completion, the project is expected to generate clean energy enough to satisfy electricity requirements of over 500,000 households yearly. The project is Vena Energy’s first green project financing arrangement in India and is supported by five mandated lead arrangers, the Hongkong and Shanghai Banking Corporation Limited (HSBC), BNP Paribas Bank, Mizuho Bank Limited (Mizuho), Sumitomo Mitsui Bank Corporation (SMBC), and Axis Bank Limited. BNP Paribas, Mizuho, and SMBC acted as green loan coordinators, while HSBC acted as account and modelling bank, and Axis Bank Limited acted as the lenders agent.