BRIEF-SBI says European Investment Bank confirms EUR 200 mln long-term loan to co
March 31 State Bank of India:
* Says European Investment Bank confirms EUR 200 million long-term loan to SBI to support Indian large scale solar projects
* Says four schemes across country, with a generation capacity of 530 MWAC, have already been identified
* SBI-Loan to support total investment in five different large-scale photo-voltaic solar power projects and contribute to India's national solar mission
* The 20 year long-term European Investment Bank loan will support individual projects following technical & financial due diligence
* Says it is expected that projects in Telangana and Tamil Nadu states, and elsewhere in country, will be backed by new initiative
* Says entire process of arranging loan was facilitated by SBI's subsidiary, SBI Capital Markets
* SBI-European Investment Bank will support investment in individual solar projects alongside financing from Indian banks and project promoters Source text:
The European Investment Bank today confirmed new support for solar power generation in India in partnership with the State Bank of India. The EUR 200 million (INR1,400 Crores) long-term loan will support total investment of EUR 650 million in five different large-scale photo-voltaic solar power projects and contribute to India’s National Solar mission and reduce dependence on fossil fuel power generation. Four schemes across the country, with a generation capacity of 530 MWac, have already been identified.
The EUR 200 million 20 year long-term European Investment Bank loan will support individual projects following technical and financial due diligence. It is expected that projects in Telangana and Tamil Nadu states, and elsewhere in the country, will be backed by the new initiative. The European Investment Bank will support investment in individual solar projects alongside financing from Indian banks and project promoters. Further company coverage: