Dutch bank FMO provides refinancing line to Srei Equipment Finance

KOLKATA: Srei Equipment Finance, a wholly-owned subsidiary of Srei Infrastructure Finance, has received $30 million loan refinancing facility from FMO, a Netherlands based development finance bank.

The refinancing facility will be used for Srei Equipment Finance's loans to the renewable energy projects sector such as solar and wind energy. The Kolkata-based firm finances or leases out equipment used for solar and wind power 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," said Devendra Kumar Vyas, Managing Director at Srei Equipment Finance.


FMO's refinancing line will allow Srei Equipment to grow its footprint in this high growth segment.

"This transaction reaffirms our dedication towards building a sustainable future,” Vyas said.

The Ministry of New and Renewable Energy (MNRE) in India plans to set up renewable energy capacities to the tune of 225 GW by 2022. The installed renewable power generation capacity in India has also grown at 19.78% CAGR FY14 and FY18.