Vibrant Energy securesthe financing of over INR 2,200 crores from Power Finance Corporation for delivering 300 MW acWind-Solar Hybrid projects – EQ Mag
India : Vibrant Energy (Vibrant), a leading owner and developer of corporate renewable energy solutions has secured over INR 2,200 crores of project financing from Power Finance Corporation Ltd. (PFC) for the construction of300 MWac of Wind-Solar Hybrid projects in Madhya Pradesh and Karnataka. This financing will stand out as one of the largest project financing deals in the Indian Renewables Industry in 2023.
Mr. Srinivasan Viswanathan, CEO, Vibrant Energy, said,”We are excited to partner with Power Finance Corporation in building one of India’s biggest corporate renewable energy projects. This partnership will bring us closer to achieving India’s vision of realizing 500GW by 2030. We look forward to continuing this partnership and enabling more green energy solutionsfor Corporate India.”
About PFC:
PFC is an Indian central public sector undertaking and a leading non-banking financial institution, under the ownership of the Ministry of Power, Government of India. It is India’s largest NBFC by Net-worth (all reserves).Established in 1986, it is the financial backbone of the Indian power sector with a vision to provide affordable and competitive financial products and solutions across the Indian power and allied infrastructure sectors.
About Vibrant Energy:
Vibrant Energy is a portfolio company of Macquarie Asset Management’s Green Investment Group (MAM-GIG) with a mission to lead the decarbonization initiatives for corporate renewable energy customers and help them to attain a more sustainable, resilient, and low-cost energy future. Vibrant is currently operating and delivering more than 2GW of renewable energy solutions for corporates.
