Reportedly, Avaada Group is set to secure USD 700 million in long-tenor project financing from a consortium of foreign banks to fund its solar–wind hybrid power project awarded by SJVN Limited.
The proposed financing is being structured as a 20-year project finance facility with global lenders such as Standard Chartered and Sumitomo Mitsui Banking Corporation in advanced discussions to participate. Japanese lender Mitsubishi UFJ Financial Group and Singapore-based DBS Bank are also expected to join the lending consortium. According to sources, the loan terms are in the final stages of negotiation and may include a put option at the end of five years, providing Avaada with an early repayment window. The financing is aligned with the long gestation period of the project and is expected to be finalised in the coming weeks.