Sumitomo Mitsui Banking Corporation (SMBC) has reached financial close on a 210 MW hybrid renewable energy project being developed by JSW Energy in Maharashtra, India. The transaction marks SMBC’s first project finance transaction with JSW Group’s renewable energy platform and JSW Energy’s first project finance facility through External Commercial Borrowing (ECB).
SMBC acted as the Mandated Lead Arranger, Underwriter and Bookrunner for the transaction, while also serving as the Sole Structuring Bank, Green Loan Coordinator, Sole Letter of Credit (LC) and Hedging Bank, and Account Bank.
The financing supports the development of the hybrid renewable energy project, which combines wind and solar generation. Hybrid renewable energy projects are gaining importance in India as developers seek to provide more consistent renewable power and support the country’s growing electricity demand.
The transaction further expands SMBC’s project finance portfolio in India’s renewable energy sector and strengthens its involvement in the financing of large-scale clean energy infrastructure. The financing was completed in collaboration with JSW Energy, financing partners, advisors and other stakeholders.
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