Energy Efficiency Services inks first long-term rupee loan of Rs 500 cr
New Delhi, Jan. 3 -- State-runEnergy EfficiencyServices Ltd (EESL) has raised its first long-termrupee loanof Rs 500 crore, the undertaking announced on Tuesday.
The government ownedPunjab National Bank(PNB)-issued loan will be utilised to fund EESL's capital expenditure for its programmes such as the Street Lighting National Programme, Smart Meter National Programme, Solar Substation and e-mobility projects, a company statement said.
"The agreement for the seven-year loan was signed with a two-year moratorium, with the interest rate being linked to PNB's Marginal Cost of Fund-Based Lending Rate (MCLR), presently at 8.45 per cent per annum," it said.
Commenting on the development, EESL Managing Director Saurabh Kumar said in a statemen...
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