Bank of Baroda secures loan awards for 800 MW solar projects in Gujarat
Author: PPD Team Date: January 16, 2025
Bank of Baroda (BoB) received Letters of Award (LoAs) from NLC India Limited to provide Rupee Term Loans (RTL) for two solar projects in Gujarat:
- 600 MW Khavda Solar PV Project – Phase XX (GUVNL)
- Loan amount: Rs 26.69 billion at an interest rate of 8.15% p.a.
- Project scope: Development of 600 MW grid-connected solar PV plants under GUVNL Phase XX on a build, own, and operate (BOO) basis at Khavda Solar Park (GSECL Stage 2), Kutch.
- Completion target: June 2025.
- Estimated cost: Rs 33.36 billion.
- 200 MW capacity under 500 MW Grid Connected Solar PV Power Project (CPSU Tranche-III)
- Loan amount: Rs 9.16 billion at an interest rate of 8.15% p.a.
- Developer: Kosol Energie Private Limited.
- Project scope: Development of a 500 MW solar PV project under the CPSU Phase-II scheme with Viability Gap Funding (VGF) for government use.
- Location: Bhuj, Kutch, Gujarat.
- Completion target: June 2025.