Sun Borne Energy Achieves Financial Closure For 15-MW Solar Plant

Financial closure has been reached with four banks, including State Bank of Patiala, Export-Import Bank of India, Canara Bank and State Bank of Travancore, the company said in a statement issued here. Debt advisory on the project was led by SBI Capital Market Limited (SBICAPS).

"The support from Indian banks demonstrates their increasing confidence in the solar industry," SunBorne Managing Director and CEO James Abraham said.

Though there is enormous potential to install solar power generation capacities in India, bankability and financing has been a key concern for many project developers, SunBorne Executive Director and CFO Anil Nayar said. Read the full report here.

Source: Economic Times, Mumbai.