Reportedly, Greenko Energy Holdings has raised Rs 48 billion through a long-term loan from the National Bank for Financing Infrastructure and Development (NaBFID) to refinance its upcoming US dollar bond maturities.
The funding has been extended to 38 special purpose vehicles under a restricted group structure, with an aggregate renewable energy capacity of about 1 GW spanning solar, wind and hydro assets. The SPVs are backed by long-term power purchase agreements with distribution companies and commercial and industrial consumers. The proceeds will be used to redeem US dollar bonds issued by the holding company in 2021 which are due for repayment in the coming months.