Cleantech Solar Secures ₹855 Crore in Long-Term Green Financing

Cleantech Solar announced recently the financial close of a ₹855-crore long-term senior secured loan from Aseem Infrastructure Finance. This funding will advance Cleantech Solar's open-access commercial and industrial (C&I) portfolio in India, aiding in the construction, development, and operation of its solar and wind parks across multiple states.

"This financing from Aseem Infrastructure Finance will accelerate the implementation of our open-access renewable energy projects in India and help advance towards a more resilient and environmentally conscious energy landscape, driving positive change for both the industry and the planet," said Cleantech Solar CEO Sachin Jain.

The power generated from these renewable energy parks will be purchased on a captive basis by corporate clients in sectors such as real estate, automotive, chemical manufacturing, and iron and steel.

Virender Pankaj, CEO of Aseem Infrastructure Finance, highlighted their commitment to the renewable energy sector, noting, "The current debt solution was meticulously structured to meet the financing requirements of the C&I project base of around 253 MW DC capacity across 13 SPVs, spread over four states and having a very diversified offtaker composition."

Cleantech Solar emphasized its commitment to rapidly expanding its 1.2 GWp portfolio in response to rising demand for sustainable energy solutions.

HBL