Greenko secures Rs. 5,500 cr loan for first off-river power storage project.

Greenko has tied up a Rs. 5,500 crore loan from Power Finance Corporation (PFC) to build India's first off-river energy storage project, which will be located in Andhra Pradesh, according to two people aware of the matter.

The 20-year loan has been priced at 11% per annum interest and the power generator will have to start repaying the loan only after the project has been commissioned.

ET