$950 million debt raise funds three renewable energy projects across India

State Bank of India, Standard Chartered, HSBC, DBS Bank, SMBC Group, MUFG, and BNP Paribas have jointly funded the $950 million debt package. The capital is strictly earmarked for three renewable energy projects currently under construction, with commissioning expected in FY2027–28.

The first project—a Firm and Dispatchable Renewable Energy (FDRE) facility in Bikaner, Rajasthan, backed by SJVN Limited—represents the largest financing transaction in India's FDRE segment to date. FDRE projects deliver round-the-clock clean power, addressing India's baseload energy challenge without fossil fuels.