SBI and Exim Bank of India has planned to give 14-yr loan for Spanish, U.S. firms' solar plant

By | August 9, 2011

A recent press report has said that State Bank of India (SBI) and Export-Import Bank of India (Exim Bank) have planned to provide a 14-year loan to a Spanish solar energy producer Grupo T- Solar Global SA and U.S.-based Astonfield Renewable Resources for setting up a solar plant in the country.

Mr. Ameet Shah, co- chairman of Astonfield said that the long tenure of the loan may be the longest in the South Asian nation so far.

Reports said that Grupo T-Solar and Astonfield Renewable Resources recently made an agreement to develop a solar power generation capacity of 200 megawatt in 4 years in India. The deal involves development of thin film photovoltaic (PV)-based solar projects with an investment of $600 million. The companies have set a target to install 32 megawatt of capacity by March 2012.

Currently Grupo T-Solar operates 168 megawatts of solar capacity in Spain and Italy, while Astonfield has 41.5 megawatts of active solar and biomass projects in India.

SBI the country’s largets lender widely involved in offering retails loans such as home loans, personal loans, car loan, business loans etc and other commercial loans have joined hands with Exim Bank to offer loans to

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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