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.
A 300 MW solar project in Rajasthan, backed by NTPC Green Energy Limited, forms the second deployment. The third is a 300 MW solar project in Gujarat under SECI, the Solar Energy Corporation of India.
The three-project structure reflects a broader banking appetite for India's clean energy infrastructure. Consortiums pooling global and domestic capital signal confidence in long-term renewable generation economics and policy support for decarbonization.
