New Delhi: In a significant boost to India’s energy transition, HPCL Renewable & Green Energy Ltd. (HPRGE)—a wholly owned subsidiary of Hindustan Petroleum Corporation Limited (HPCL)—has successfully secured a ₹828 crore Rupee Term Loan-1 from India Exim Bank. This funding marks the financial closure of the first major phase of HPRGE’s ambitious ₹3,500 crore green energy initiative.
Solar & Bioenergy Projects Get Funding Push
The sanctioned funds will support the rollout of 14 renewable energy assets—comprising 11 solar power projects and 3 compressed biogas (CBG) plants—strategically located across key regions in India. These initiatives are designed to accelerate HPCL’s shift toward cleaner energy solutions and contribute to the country’s broader net-zero goals.
The financial package was secured at a competitive interest rate, underscoring investor confidence in HPRGE’s project pipeline. Notably, the deal reflects strong institutional backing, with SBI Capital Markets (SBI CAPS), SBICAP Trustee Company Ltd., and ICICI Bank Ltd. joining as key partners in facilitating the transaction.
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Strategic Partners Enable Green Vision
HPRGE extended its appreciation to India Exim Bank for leading this financial commitment and thanked all institutional partners for their continued trust. “Together, we are powering India’s sustainable future,” the company shared in an official statement, highlighting the transformative potential of this clean energy pivot.
The current financial closure marks just the beginning. HPRGE plans to raise an additional ₹2,672 crore in the next phases to complete its green portfolio expansion.
About HPCL & HPRGE
Hindustan Petroleum Corporation Limited (HPCL), a Maharatna PSU under the Ministry of Petroleum & Natural Gas, is one of India’s leading integrated energy companies with a diversified portfolio spanning refining, marketing, and petrochemicals. HPRGE was established as its dedicated green energy arm to spearhead investments in renewables, including solar, wind, and bioenergy, aligning with India’s national sustainability commitments.
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