SJVN Secures Rs. 10,000 Crore Construction Finance Facility for Renewable Power Projects

SJVN Secures Rs. 10,000 Crore Construction Finance Facility for Renewable Power Projects

SJVN Secures ₹10,000 Crore Construction Finance Facility to Boost Renewable Energy Push

SJVN Powers Up with Rs. 10,000 Crore Funding for Renewable Energy Revolution

SJVN Powers Up with Rs. 10,000 Crore Funding for Renewable Energy Revolution

Shimla, December 29, 2023: In a significant boost to India’s renewable energy drive, SJVN (Satluj Jal Vidyut Nigam Limited) has secured a massive ₹10,000 crore (US$ 1.2 billion) construction finance facility from a consortium of leading domestic and international banks. This first-of-its-kind transaction for a PSU and public sector banks marks a major milestone in financing India’s clean energy transition.

Key Highlights:

  • ₹10,000 crore construction finance facility secured from a consortium of five banks: Deutsche Bank, State Bank of India, Punjab National Bank, Bank of India, and MUFG Bank.
  • Facility to fuel development of upcoming renewable energy projects: SJVN’s current RE portfolio stands at 5090.5 MW, with 179.5 MW operational, 1860 MW under construction, and 3051 MW in various stages of implementation.
  • Streamlined project execution with revolving credit: The facility allows SJVN to draw down funds as needed, facilitating faster project development.
  • Contributing to India’s 500 GW RE target by 2030: SJVN’s commitment to clean energy aligns with the government’s ambitious renewable energy goals.
  • SBI Capital Markets Ltd (SBI CAPS) acted as the sole advisor and arranger.

As per Nand Lal Sharma, Chairman & Managing Director, SJVN: “We are exhilarated to have secured this facility, which underscores the financial community’s recognition of our commitment to a greener and more sustainable future.”

SJVN’s dedication to clean energy: The company is marching forward with a target of 12,000 MW by 2026, a shared vision of 25,000 MW by 2030, and 50,000 MW installed capacity by 2040.

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