ReNew has secured a project loan of ₹2,700 crore from the State Bank of India for its 403 MW Peak Power Project, signalling that local lenders that lost money having advanced large funds to power plants a decade ago are finally beginning to extend loans to them – but to only those with a robust equity component in the capital structure.
To be sure, Petronas’ clean energy subsidiary, Gentari, recently acquired a 49% equity stake in this project.
