Gujarat Urja Vikas Nigam Limited (GUVNL) has announced a green financing fund during the 4th Global Renewable Energy Investors Meet and Expo (RE-INVEST).
The fund will be developed in partnership with sovereign wealth funds, green funds, and international agencies and aims to support developers who secure GUVNL’s renewable energy bids. A tripartite agreement will be set up between GUVNL, the financing fund, and project developers, using a special account to manage the payments. This account will receive payments from the energy supplied to GUVNL and ensure that loans to developers are paid back securely. REC Limited will act as the anchor financier for the fund.