Subsidiary receives SBI sanction of ₹911.25 Crores for 225 MW Solar IPP Project
Bondada Engineering's subsidiary Onix IPP Private Limited has received a sanction of ₹911.25 Crores from State Bank of India for a 225 MW Solar IPP project.
- Total SBI sanction
- ₹911.25 Crores
- Term loan facilities
- ₹900 Crores
- Non-fund-based facilities
- ₹11.25 Crores
- Solar IPP project size
- 225 MW
- PPA tenure with MSEDCL
- 25-year Power Purchase Agreement (PPA)
The company has informed the exchange that its subsidiary, Onix IPP Private Limited, has received a sanction of ₹911.25 Crores from State Bank of India for financing a 225 MW Solar Independent Power Producer (IPP) project.
What the sanction is made of
- Term loan facilities: ₹900 Crores
- Non-fund-based facilities: ₹11.25 Crores
- Total sanctioned facility: ₹911.25 Crores
The project is being developed by Onix IPP, with State Bank of India as the lending institution.
Long-term revenue visibility
The project is supported by a 25-year Power Purchase Agreement (PPA) with Maharashtra State Electricity Distribution Company Limited (MSEDCL). The update states that this PPA provides long-term revenue visibility and predictable cash flows over the project tenure.
How the company describes the news
The company calls the SBI sanction a significant milestone in its strategy to expand its presence in the Renewable Energy IPP segment and to build a portfolio of long-term, annuity-based renewable energy assets. It expects the project to strengthen its renewable energy portfolio, enhance long-term revenue visibility and contribute towards sustainable growth and long-term value creation.
The company adds that it continues to focus on expanding its renewable energy platform through a combination of EPC, O&M, BESS and IPP opportunities, with the objective of building a diversified and sustainable renewable energy business.
What this means in simple terms
- A sanction is an approval of credit by the lender; the money is drawn as per the terms of the facility.
- The borrower here is Onix IPP Private Limited, a subsidiary of the company.
- The project is a 225 MW solar IPP asset, and its revenue is linked to a 25-year PPA with MSEDCL.
Key numbers to note
- 225 MW: size of the solar IPP project
- ₹911.25 Crores: total sanctioned facility from SBI
- ₹900 Crores: term loan portion
- ₹11.25 Crores: non-fund-based portion
- 25 years: tenure of the PPA with MSEDCL
Also from Bondada Engineering
Bondada Engineering announced a large order win of more than Rs 1,100 crore
6 Oct 2026
Bondada Engineering wins ₹1,153.93 crore EPC order for 270 MWp solar project in Maharashtra
6 Oct 2026
221.7 MWp Solar Projects Commissioned in Q2 FY27; Cumulative Capacity ~1.7 GWp
1 Oct 2026
More numbers
- Total sanction received from State Bank of India₹911.25 Crores
- Term loan facilities₹900 Crores
- Non-fund-based facilities₹11.25 Crores
- Solar IPP project capacity225 MW
- Power Purchase Agreement tenure with MSEDCL25-year
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