Cleantech Solar, a prominent provider of sustainable energy solutions to businesses in India and Southeast Asia, is delighted to announce the successful completion of a substantial long-term senior secured loan of INR 855 crores from Aseem Infrastructure Finance Limited.
The Rupee Term Loan (RTL) will be used for the construction, development, and operation of Cleantech Solar’s open-access solar and wind parks in several states of India. Corporate clients will acquire power from these renewable energy farms exclusively for their commercial activities.
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These projects will cater to clients from many sectors, including real estate, automotive, chemical production, and iron and steel. Cleantech Solar is dedicated to extending its portfolio, which presently stands at 1.2 GWp, in response to the increasing need for sustainable energy solutions. Additionally, the company aims to assist prominent enterprises in transitioning to renewable energy sources.
Cleantech Solar is a company that supplies renewable energy to businesses around Asia. They have the advantage of being a global player while still being responsive and agile. Cleantech Solar, based in Singapore, has multiple solar and wind hybrid projects across India and Southeast Asia. These projects encompass around 1.2 GWp of assets that are either operational, under construction, or in the development stage.
Mr. Virender Pankaj, CEO of Aseem Infrastructure Finance Limited, said: “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. At Aseem Infra, we are committed to driving the growth of the renewable energy sector 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.”
Mr. Sachin Jain, CEO of Cleantech Solar, said: “It has been an honor 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. 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, driving positive change for both the industry and the planet. My congratulations to both teams for this long-term partnership”
About Cleantech Solar
Founded in 2014 by Raju Shukla, Cleantech Solar is a pan-Asia supplier of renewable energy to corporates, combining the capabilities of a global player with responsiveness and agility.
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