Srei Equipment Finance gets credit approval of $30 million from Dutch Development Bank

CHENNAI: Srei Equipment Finance, a subsidiary of Srei Infrastructure Finance, has received credit approval for $30 million from FMO, a Netherlands-based development finance bank.
The loan was acquired with an aim to financing or leasing of equipment used for solar and wind projects.
“Renewable energy technologies are clean sources of energy that have a much lower environmental impact than conventional energy technologies.Therefore, for the sake of a sustainable future we need to consciously make an effort to invest in such environment friendly measures. This transaction reaffirms our dedication towards building a sustainable future,” Devendra Kumar Vyas, MD, Srei Equipment Finance, said.
The ministry of new and renewable energy in India has set an ambitious target to set up renewable energy capacities to the tune of 225 GW by 2022. The installed renewable power generation capacity in India has increased and has a CAGR of 19.78% between FY14–18. This partnership with FMO is expected to allow the company to augment its participation in this high growth segment.
Srei Equipment already has an environmental and social management system in place for over a decade.