IREDA sanctions Rs 52 loan for Veer Energy's wind farm project

Shruti Power Projects Pvt Ltd, a wholly-owned subsidiary of Veer Energy & Infrastructure Ltd, has been sanctioned a loan of Rs 52.56 crore by the Indian Renewable Energy Development Agency (IREDA). This loan is sanctioned for setting up a 12 MW wind farm project, worth Rs 75.60 crore, at Vinjalpur village, Khambhalia (Gujarat).
 
The new project is expected to generate additional revenue of Rs 12 crore per annum to the company by way of power generation. Veer Energy & Infrastructure is also expected to take the benefit of generation based incentive (GBI) as per the policy declared by the central government. The company is expected to commission the project by August 31, 2014.