Ampin Energy Transition Secures Rs 742 Cr Loan for Hybrid Project

New Delhi, Oct 17 (PTI) Ampin Energy Transition on Thursday announced securing a Rs 742 crore loan from Standard Chartered Bank for its 200 MWp hybrid project.

The solar-wind project will come up in Rajasthan and is expected to generate over 435 million units of clean energy on an annual basis offsetting 71,66,223 tonne of Co2 per year, the company said in a statement.

A green loan of Rs 742 crore (USD 89 million) has been secured from Standard Chartered Bank for the project. The total investment for this project is valued at Rs 944 crore (USD 113 million), it said.

The energy generated would be supplied to 74,486 households, the company said.

"We announce the financial closure of our 200 MWp (megawatt peak) solar-wind hybrid project in Rajasthan. The collaboration with Standard Chartered Bank supports our vision of driving the renewable energy transition," Pinaki Bhattacharyya, Managing Director & Chief Executive Officer of AMPIN Energy Transition, said.

Ampin Energy Transition has a portfolio of 4 GWp clean energy projects spread across 21 states in India.