YES Bank lends $146.3 million to India’s Mahindra Renewables for 250 MW project
The project is part of the 750 MW Rewa solar park in India’s Madhya Pradesh. YES Bank has also reaffirmed its commitment to mobilize US$5 billion for financing solar power projects in India by 2030 with the International Solar Alliance (ISA) at the latter’s founding ceremony in New Delhi, held last week.
YES Bank lends $146.3 million to Mahindra Renewables for its 250 MW PV Rewa project.
Image: Flickr/Magnus Von Koeller
Mahindra Renewables Pvt Ltd, a wholly owned subsidiary of Mahindra Susten Pvt Ltd, has achieved financial close for its 250 MW Solar Power Project, to be located in the Rewa District of Madhya Pradesh.
YES Bank Ltd will provide financial assistance in the form of project debt to the extent of INR 7.5 billion ($115.5 million), and from other financial institutions up to INR 2 billion ($30.8 million).
Sraisth joined the pv magazine team in September 2017. He covers the Indian PV market and is responsible for the pv magazine India website. More articles from Sraisth
