Avaada Group has completed Rs 85 billion in financing and refinancing for nine projects across its business divisions.
The financing encompasses utility-scale solar projects in independent power producer mode, agrivoltaic projects under the PM-KUSUM scheme, merchant power generation projects, commercial and industrial solar projects, and the group’s solar module manufacturing facilities. The financing was carried out through multiple transactions involving a diverse group of lenders, including public-sector banks such as the State Bank of India and Union Bank, public-sector financial institutions like NABFID and PFC, and private-sector or multinational banks and institutions, including Standard Chartered, Axis Bank, Yes Bank, Tata Capital, Aseem Infra, and NIIF, among others.