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Indian Energy achieves fin closure of its 24.8MW wind farm
Belgaum Wind Farms Private Limited, a group company of India Energy Limited, has achieved financial closure of its 24.8 MW Wind Farm at Gadag District in Karnataka. State Bank of India has underwritten the entire debt facility of Rs 90 crore. SBI Capital Markets Ltd. is the lead arranger and advisor for the project.
Belgaum Wind Farms Private Limited, a group company of India Energy Limited, has achieved financial closure of its 24.8 MW Wind Farm at Gadag District in Karnataka. State Bank of India has underwritten the entire debt facility of Rs 90 Crore. SBI Capital Markets Ltd. (SBICAP) is the lead arranger and advisor for the project.
This is one of the first wind farm in the country with IPP status to achieve financial closure with non-recourse facility to promoters Balance Sheet.
Indian Energy Limited was incorporated and registered in Guernsey, UK and has special focus for adding the renewable energy. It plans to add 250 MW in near future.
The project has a debt equity ratio of 1.7: 1(term loan of Rs. 90 crores and equity of Rs. 53.06 Crores).
