India-based Juniper Green Energy has announced securing $1bn (Rs87.47bn) in phased debt financing from financial institutions to support its renewable energy projects.
The funding will be utilised for wind-solar hybrid and Firm & Dispatchable Renewable Energy (FDRE) projects, enabling the company to execute large-scale initiatives and boost its operational capacity.
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According to the PTI report posted on Business Standard, the debt financing was obtained from financial institutions, including Power Finance Corporation, DBS Bank, HSBC Bank, and the Indian Renewable Energy Development Agency.
These funds are said to position Juniper Green Energy to meet the rising demand for clean energy and strengthen its market presence.
Backed by Singapore-based AT Capital and Dutch company Vitol, the company is an independent renewable energy power producer specialising in solar, wind, and hybrid projects.
Juniper Green Energy currently operates a 1GW renewable energy portfolio, with 3GW under construction and nearly 6GW in the development pipeline for solar, wind, and hybrid projects.
Recent company advancements include an order with Envision Energy India for 200 units of the EN 182/5MW wind turbine generator and a 320.38MWh battery energy storage system (BESS).
Additionally, Juniper Green Energy has partnered with First Solar for the supply of 1,000MWp of Series 7 solar photovoltaic modules.
This equipment will be deployed across key Indian states, supporting the transition to clean energy.
Juniper Green Energy CEO Naresh Mansukhani said: “Securing this funding highlights the strength of our business model and our long-term strategy.”
The financing comes as the company prepares to launch its initial public offering (IPO) later this year, according to the Economic Times.
The company has engaged ICICI Securities, JM Financial, and HSBC to launch a Rs30bn IPO. The funds will be raised through a primary offering of shares.
