32 MW wind farm to be set up

MSPL Limited, a Karnataka-based company involved in iron-ore mining, will set up a 32.40 MW wind-farm project in Karnataka with an investment of Rs 133 crore.

Rabo India acted as financial advisors for the transaction and also provided part of the project finance through Rabo India and Rabobank, Singapore branch.

Rabo India Finance has structured an amortising Rupee and USD project finance facility for the project and this amount will be used by MSPL towards part-financing the wind farm project. MSPL is among the pioneers in systematic and scientific mining in India and is one of the largest exporters of iron ore in India.

Said Shrenik Baldota, ED, MSPL: "We see wind energy as an alternative stable revenue stream and MSPL as a leading company in the renewable energy space in India. Rabo India has played a key role in structuring and financing the transaction for MSPL and we see them as our long term partners in our growth path."

Added Sanjiv Bhasin, CEO, Rabo India: "The transaction once again underlines Rabo India's commitment to support sustainable energy business initiatives in the country."