Bondada Engineering secures first major bank-funded term loan for BESS project
Bondada Engineering Limited has received sanction for a term loan from Canara Bank to finance the debt component of its Battery Energy Storage System (BESS) project with Tamil Nadu Green Energy Corporation Limited (TNGECL), the company announced in a regulatory filing. The sanction marks the company’s entry into large-scale, bank-funded infrastructure financing and represents a strategic shift toward asset ownership and annuity-based revenue models. The company is also eligible for Viability Gap Funding (VGF) totalling…