Aseem Infra committed to driving growth of renewable energy sector, says Pankaj
Singapore-headquartered Cleantech Solar https://cleantechsolar.com/ says the Rs.855 crore Rupee Term Loan (RTL) is for construction, development and operations of its open access solar and wind parks across multiple Indian states, power from which will be supplied to corporate clients on a captive basis for their business operations.
Cleantech, a leading provider of renewable energy solutions to corporations in India and Southeast Asia, has reported the financial close of a long-term senior secured loan from Aseem Infrastructure Finance Limited (AIFL) https://aseeminfra.in/ for the advancement of its open access Commercial and Industrial (C&I) portfolio in India.
Mumbai-headquartered AIFL, an NBFC – IFC (Infrastructure Finance Company), is established with the aim of playing a transformative role in growth of Indian infrastructure debt financing https://www.bseindia.com/ .
These projects will serve clients spanning several sectors, such as real estate, automotive, chemical manufacturing and iron and steel. As the demand for sustainable energy solutions continues to rise, Cleantech Solar is committed towards rapidly expanding its portfolio, currently at 1.2 GWp, and helping leading businesses make the switch to renewable energy https://www.nseindia.com/ .
Virender Pankaj, CEO of Aseem Infrastructure Finance Limited, said on 25 June, “Aseem Infrastructure Finance is glad to partner with Cleantech Solar to provide long-term debt financing that will significantly contribute to the expansion of their Open Access green energy portfolio https://www.ibef.org/ .
“At Aseem Infra, we are committed to driving the growth of the renewable energy sector https://mnre.gov.in/ by providing bespoke debt financing solutions that cater to the unique needs of our clients. As a testament to this, current debt solution was meticulously structured to meet the financing requirements of C&I project base of ~253 MWdc capacity across 13 SPVs, spread over four states and having a very diversified offtaker composition.
“This collaboration with Cleantech Solar reiterates our unwavering dedication to sustainability and our confidence in the transformative potential of renewable energy projects. We look forward to continuing and further strengthening our partnership with Cleantech Solar in future http://isolaralliance.org .”
Sachin Jain, CEO of Cleantech Solar, elaborated, “It has been an honour to be the preferred renewable energy partner for some of the world’s leading corporations, helping them run operations sustainably and economically whilst contributing to a greener grid http://gwec.net .
“This financing from Aseem Infrastructure Finance will accelerate the implementation of our open access renewable energy projects in India and help advance towards a more resilient and environmentally conscious energy landscape https://powermin.gov.in/ , driving positive change for both the industry and the planet. My congratulations to both teams for this long-term partnership!”
Cleantech Solar has numerous solar and wind hybrid projects across India and Southeast Asia, covering approximately 1.2 GWp of assets in operations, construction and development stages. This includes installations in India, Singapore, Cambodia, Indonesia, Malaysia, Thailand and Vietnam. The company is backed by long-term strategic shareholders – Keppel Ltd http://keppel.com , Keppel Asia Infrastructure Fund https://www.keppelasiainfrafund.com/ and Shell Singapore Pte Ltd https://www.shell.com.sg/ .
Aseem Infrastructure Finance is a leading financial institution dedicated to supporting sustainable infrastructure development projects. With a strong focus on renewable energy, the company provides innovative financing solutions to promote the growth of clean energy initiatives. “In line with our vision to help create a futuristic India through transformative infrastructure financing, we have been making rapid strides, as reflected in our high-quality asset book crossing the Rs.13,500 crores mark within a short span of time; comprising of over 50% exposure in the renewable sector,” said AFIL. Fiinews.com
