Tata Power Co. Ltd. said its subsidiary Tata Power Renewable Energy Ltd. had tied up the entire debt requirement through a consortium of domestic lenders, namely State Bank of India and Export Import Bank of India with SBI Capital Markets Ltd. acting as the sole financial advisor and arranger for its 25-MW Mithapur solar project in Gujarat being set up at investment of around Rs.365 crore, reports said.
The solar photovoltaic (PV) power project at Mithapur will be funded through a debt equity mix of 70:30. The plant is expected to commence power generation by end-December.
The project financing comprises equity of Rs.110 crore and rupee term loans of Rs.255 crore, the company said.
The company said the first loan disbursement was received on December 8.
Tata Power Managing Director Anil Sardana said, "The signing of the financing agreements is a significant milestone for the project. We look forward to participating in many such initiatives in solar power."
Tata Power has inked a Power Purchase Agreement (PPA) for the project with Gujarat Urja Vikas Nigam Ltd.
At the BSE, Tata Power shares closed Tuesday's trading at Rs.90.50, up by 1.57 percent from the previous close.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.