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

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

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.