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					</table><p>Government-owned SJVN has secured a green financing loan of ₹9.15 billion (~$111.2 million) from the Japan Bank for International Cooperation (<a href="https://www.jbic.go.jp/en/" target="_blank" rel="noopener">JBIC</a>) to construct two solar power projects in India.</p>
<p>The first <a href="https://www.mercomindia.com/amp-energy-sjvn-and-nhdc-rumsls-floating-solar-auction" target="_blank" rel="noopener">project</a> is the 90 MW Omkareshwar Floating Solar Power Project in Madhya Pradesh, and the second project is the 100 MW Raghanesda Solar Power Project in Gujarat.</p>
<p>The combined estimated cost of these projects is ₹12.9 billion (~$156.5 million).</p>
<p>JBIC, co-financed with private financial institutions in Japan, is financing these projects with a combined capacity to produce approximately 450 MU of electricity in their first year. These projects are expected to begin operation in 2023.</p>
<p>The loan will support SJVN&#8217;s renewable energy projects in India and promote environmentally sustainable development.</p>
<p>JBIC will provide 60% of the debt financing for these projects, while the remaining balance will be covered by Japanese commercial banks, namely <a href="https://www.bk.mufg.jp/global/" target="_blank" rel="noopener">MUFG Bank</a> and <a href="https://www.gogin.co.jp/" target="_blank" rel="noopener">San-in Godo Bank</a>.</p>
<p>SJVN and JBIC have recently signed a &#8216;Facility Agreement&#8217; under JBIC&#8217;s Global Action for Reconciling Economic Growth and Environmental Preservation (GREEN) program.</p>
<p>SJVN has set a target of generating 25 GW of power by 2030, with over 50% coming from solar and wind sources.</p>
<p>Last month, SJVN<a href="https://www.mercomindia.com/sjvns-q3-profit-%e2%82%b92-9-billion-income-equity-transfer" target="_blank" rel="noopener"> posted</a> a profit of ₹2.87 billion (~$34.7 million) for the third quarter (Q3) of the financial year (FY) 2022-23, an increase of 22% year-over-year (YoY).</p>
<p>Earlier in January, the Cabinet Committee on Economic Affairs <a href="https://www.mercomindia.com/daily-news-wrap-up-sjvn-382-mw-hydropower-himachal-pradesh" target="_blank" rel="noopener">approved</a> the 382 MW Sunni Dam hydroelectric project in Himachal Pradesh by SJVN. The project will be built at an estimated cost of ₹26.15 billion (~$315.6 million), including ₹138 million (~$1.6 million) as budgetary support from the Government of India.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gautamee-hazarika/" class="vcard author" rel="author"><span class="fn">Gautamee Hazarika</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Gautamee,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gautamee-hazarika/" target="_blank" rel="noopener">More articles from Gautamee.</a><br />
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<a href="gautamee@mercomindia.com" target="_blank" rel="noopener">gautamee@mercomindia.com</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="102" height="102" /><a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">Gautamee</a> is a reporter at Mercom India. Prior to Mercom, Gautamee was working as a multimedia news journalist at ThePrint in New Delhi. She has received her Bachelors in English Honors and Masters in English Literature from St.Stephen&#8217;s College, University of Delhi.<a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">More articles from Gautamee</a></div>
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SJVN secures ₹9.2 Billion Loan from Japan Bank for International Cooperation

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