Cleantech Solar has announced the financial closure of a long-term senior secured loan amounting to Rs 8.55 billion from Aseem Infrastructure Finance Limited for the advancement of its open access commercial and industrial (C&I) portfolio in India.
The rupee term loan will be deployed towards construction, development and operations of Cleantech Solar’s open access solar and wind parks across multiple Indian states. Power from these renewable energy parks will be purchased by corporate clients on a captive basis for their business operations. These projects will serve clients spanning several sectors, such as real estate, automotive, chemical manufacturing and iron and steel.