Power Finance Corporation (PFC) announced on Thursday that it has obtained a loan of JPY 25.5 billion (approximately INR 147 crore) from the Japan Bank for International Cooperation (JBIC) to support a wind energy initiative. This funding is part of JBIC’s GREEN initiative, which aims to balance economic growth with environmental preservation.
The loan, in addition to JBIC’s contribution, is co-financed by Sumitomo Mitsui Banking Corporation and other Japanese banks. JBIC will also guarantee the portion of the loan co-financed by these private institutions.
The funds will be used for the 300.3 MW Wind Energy Project by Ostro Kannada Power Private Ltd (OKPPL) in Karnataka, India.
