Avaada in talks with Standard Chartered, SMBC & other banks to raise $700 mn for SJVN solar-wind hybrid project

Green energy firm Avaada Group is in advanced talks with foreign banks, including Standard Chartered and SMBC, to raise about $700 million (around Rs 6,500 crore) through a 20-year project finance loan to fund its solar-wind hybrid project awarded by SJVN. Other lenders likely to participate include MUFG and DBS, with the deal expected to be finalised soon. The loan structure is still being worked out and may include a put option after five years.