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PGCIL signs green loan agreement with SMBC for RE integration

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Power Grid Corporation of India Limited (PGCIL) has signed a green loan agreement with Sumitomo Mitsui Banking Corporation (SMBC) at GIFT City, Gandhinagar, Gujarat.  The agreement, denominated in JPY for the US dollar equivalent of $200 million with a greenshoe option of $150 million, will support critical infrastructure development for renewable energy (RE) evacuation and integration into the National Grid. The agreement was signed by Sh. Ashwani K. Gupta, ED (Finance), POWERGRID, Sh. Sriram Kumondur,…

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Iberdrola secures green loan for photovoltaic plant in Sicily

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Iberdrola has finalized a €100m ($103m) green loan agreement with the European Investment Bank (EIB), guaranteed by SACE under the Archimede scheme, to construct a new photovoltaic plant in Sicily, Italy.  This marks the first collaboration between the EIB and Iberdrola backed by SACE. The plant, expected to be operational by 2025, will have a capacity of 242.78MWp, producing 400GWh annually—enough to meet the energy needs of approximately 154,000 households.  Located in the provinces of…