SEFL is the leader in India for financing construction equipment with some 60,000 client sites. This non-bank financial company is wholly-owned by Srei Infrastructure Finance Limited (SIFL) to which PROPARCO allocated a USD 20m loan in 2010 for renewable energy projects. The loan reached maturity in October 2017.
This EUR 27m senior credit line to Srei Equipment Finance Ltd (SEFL) will be earmarked to finance renewable energy projects for a 9-year period.
PROPARCO’s financing will:
- Help meet strong electricity demand in India and support renewable energy development, while a third of the country’s population does not have access to electricity;
- Contribute to creating and maintaining employment: the project should be able to create or maintain 6,000 indirect jobs.