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PFC secures 25.5 bn yen loan from JBIC to finance wind energy project

The loan proceeds will be used to finance 300.3 MW Wind Energy Project of Ostro Kannada Power Private Ltd (OKPPL) in Karnataka

According to the statement, PFC has secured a long-term loan of JPY 25.5 billion from the JBIC. Photo: Wikimedia Commons

Press Trust of India New Delhi

1 min read Last Updated : Aug 08 2024 | 5:54 PM IST

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State-owned Power Finance Corporation (PFC) on Thursday said that it has secured a loan of 25.5 billion Japanese yen (around Rs 147 crore) from Japan Bank for International Cooperation (JBIC) for a wind energy project.

This loan is part of JBIC's Global Action for Reconciling Economic Growth and Environmental Preservation (GREEN) initiative, a PFC statement said.

According to the statement, PFC has secured a long-term loan of JPY 25.5 billion from the JBIC.

In addition to JBIC's contribution, the loan is co-financed by Sumitomo Mitsui Banking Corporation and other Japanese banks.

JBIC will also provide a guarantee for the portion of the loan co-financed by these private financial institutions.

The loan proceeds will be used to finance 300.3 MW Wind Energy Project of Ostro Kannada Power Private Ltd (OKPPL) in Karnataka, India.

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