MUMBAI, India, April 30, 2024 (GLOBE NEWSWIRE) -- Avaada Energy, the renewable energy arm of Avaada Group, is pleased to announce the successful closure of one of the largest refinancing transactions in India's renewable energy sector, securing about INR 4,471 crore (~USD 535 Million) from the state-owned lender, the National Bank for Financing Infrastructure and Development (NaBFID). This refinancing transaction, conducted under a Restricted Group (RG) structure, encompasses four ISTS-connected solar projects with a combined capacity of ~1700 MWp in the state of Rajasthan. The structure has been rated as ‘AA (Stable)' by CareEdge Ratings. This refinancing supports Avaada's mission towards a sustainable future, ensuring stable, long-term cash flows and improved financial health. It significantly contributes to renewable energy generation and positions Avaada to reduce the carbon footprint more effectively ...