Beta Wind Farm Raises $249 Million in Rupee, Dollar Loans
Beta Wind Farm Pvt., a renewable energy unit of India’s Orient Green Power Co. (OGPL), borrowed the equivalent of $249 million in rupee and dollar loans from banks.
Beta Wind Farm, based in the southern city of Chennai, raised 5.5 billion rupees ($111 million) with an 11-year facility, and $30 million from a seven-year loan to fund a 156- megawatt renewable-energy project in the state, J. Sivakumar, Orient Green’s chief financial officer, said in a telephone interview today.
The company also got a 5.36 billion-rupee 10-year loan to finance projects in the states of Andhra Pradesh and Gujarat with a total capacity of 144 megawatts, Sivakumar said.
Axis Bank Ltd. (AXSB), India’s third-biggest private-sector lender, arranged the transaction, he said.
To contact the reporter on this story: Anurag Joshi in Mumbai at ajoshi53@bloomberg.net
To contact the editor responsible for this story: Andrew Monahan at amonahan@bloomberg.net
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