Bondada Engineering Subsidiary Gets ₹911.25 Cr Loan for Solar Project

Bondada Engineering Limited's subsidiary, Onix IPP Private Limited, has received a sanction of ₹911.25 Crores from the State Bank of India. This funding is for a 225 MW Solar Independent Power Producer (IPP) Project. The facility includes ₹900 Crores in term loans and ₹11.25 Crores in non-fund-based facilities. The project benefits from a 25-year Power Purchase Agreement (PPA) with MSEDCL, ensuring long-term revenue visibility. This sanction is a key step in the company's strategy to expand its renewable energy IPP segment and build a portfolio of annuity-based assets, contributing to sustainable growth.