Serentica Renewables raises Rs 3.5k crore via ECBs
MUMBAI: Vedanta Group entity Serentica Renewables, a commercial and industrial (C&I) focused renewable energy developer in India, has raised a ?3,500 crore ($425 million) foreign currency loan for its round-the-clock renewable energy project in India.
A consortium of three international banks (Rabobank, MUFG Bank, Societe Generale) and three Indian lenders (YES Bank, Export-Import Bank of India, India Infrastructure Finance Company) have structured the loan for Serentica. Rabobank acted as the sole structuring bank for this loan facility. Tenure of the ECB facility is seven years, and the interest rate is 6.25%.
