Radiance Renewables raises USD90 million for 150 MW solar project

Radiance Renewables has secured an approximately USD90 million green loan for 150 MW AC commercial and industrial solar project.

The project is located in Maharashtra. For this, the company has already signed a power supply agreement with a global data center player to deliver solar power to consumer’s data center’s in the state for a period of 25 years. The project will be completed in two stages, the first of which will be 50 MW AC and is close to completion. For both project phases, financial closure has already been reached through final agreements. Axis Bank and Standard Chartered Bank worked together for the USD90 million green credit project finance arrangement. Furthermore, Catalyst Trusteeship Services Limited served as the facility agent and security trustee for the transaction.