Srei Equipment gets USD 30 million from Netherland bank

Srei Equipment Finance Ltd on Thursday said it has received credit approval worth USD 30 million from FMO, a Netherlands-based development finance bank.

“The loan will be fully dedicated to re-financing of green activities of Srei Equipment, primarily through the financing or leasing of equipment used for solar and wind projects,” the company said in a release.

Srei Equipment, a wholly-owned subsidiary of Srei Infrastructure Finance Ltd, has an environmental and social management system in place for over a decade, and this debt investment by FMO will further help the company amplify its ongoing efforts towards responsible financing, it said.

The Ministry of New and Renewable Energy (MNRE) has set an ambitious target to install renewable energy capacities to the tune of 225 GW by 2022.

Source: PTI