Cleantech Solar has recently closed a major financial deal securing a ₹855 crore long-term senior secured loan from Aseem Infrastructure Finance. This funding is earmarked for the advancement of Cleantech Solar’s open-access commercial and industrial (C&I) portfolio within India, focusing on renewable energy solutions.
According to Cleantech Solar, the rupee term loan will be utilized for the construction, development, and operation of open-access solar and wind parks across various states in India. This strategic initiative aims to bolster the company’s capacity in delivering sustainable energy solutions to corporate clients.
CEO Sachin Jain expressed optimism about the impact of this financing, stating, “This partnership with Aseem Infrastructure Finance will accelerate our efforts in deploying open-access renewable energy projects across India. It marks a significant step towards fostering a resilient and environmentally conscious energy landscape, driving positive change both within the industry and for the planet.”
The renewable energy generated from these projects will primarily be purchased by corporate entities on a captive basis to power their business operations. Key sectors expected to benefit include real estate, automotive, chemical manufacturing, and iron and steel industries.
Commenting on the financing arrangement, Virender Pankaj, CEO of Aseem Infrastructure Finance, highlighted their commitment to supporting the renewable energy sector.
This development underscores Cleantech Solar’s strategic efforts to contribute significantly to India’s renewable energy landscape while meeting the evolving needs of corporate clients committed to sustainability.