Bank of Baroda secures loan awards for 800 MW solar projects in Gujarat

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:

1. 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.
2. 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.