Vibrant Energy (Vibrant), a leading owner and developer of corporate renewable energy solutions has secured over INR 2,200 crores of project financing from Power Finance Corporation Ltd. (PFC) for the construction of 300 MWac of Wind-Solar Hybrid projects in Madhya Pradesh and Karnataka.
This financing will stand out as one of the largest project financing deals in the Indian Renewables Industry in 2023.
Mr. Srinivasan Viswanathan, CEO, Vibrant Energy, said, “We are excited to partner with Power Finance Corporation in building one of India’s biggest corporate renewable energy projects. This partnership will bring us closer to achieving India’s vision of realizing 500 GW by 2030. We look forward to continuing this partnership and enabling more green energy solutions for Corporate India.
PFC is an Indian central public sector undertaking and a leading non-banking financial institution, under the ownership of the Ministry of Power, Government of India.
Vibrant Energy is a portfolio company of Macquarie Asset Management’s Green Investment Group (MAM-GIG) with a mission to lead the decarbonization initiatives for corporate renewable energy customers and help them to attain a more sustainable, resilient, and low-cost energy future. Vibrant is currently operating and delivering more than 2GW of renewable energy solutions for corporates.