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Vibrant Energy, a leading provider of corporate renewable energy solutions, has secured project financing worth INR 2,200 crores from Power Finance Corporation Ltd. (PFC) to build 300 MWac of Wind-Solar Hybrid projects in Madhya Pradesh and Karnataka. This financing is considered one of the largest project financing deals in the Indian renewables industry for 2023.
According to Mr. Srinivasan Viswanathan, CEO of Vibrant Energy, this partnership with PFC will help them build one of India’s largest corporate renewable energy projects, bringing the company closer to realizing India’s vision of achieving 500 GW by 2030. He expressed his excitement to continue the partnership with PFC and enable more green energy solutions for Corporate India.
Vibrant Energy is known for its expertise in delivering reliable and efficient renewable energy solutions to corporate customers. This financing deal is expected to strengthen Vibrant Energy’s position in the renewable energy market and enable them to expand their product offerings to meet the growing demand for green energy solutions.
The project is expected to contribute significantly to India’s renewable energy goals and help reduce carbon emissions. The partnership between Vibrant Energy and PFC is a step towards achieving India’s commitment to transitioning towards a sustainable energy future.