In his new role, Arora will oversee the company's financial strategy, capital management and long-term financial planning
IIFCL will be the sole lender for the project, with the financing carrying a repayment tenor of 19 years
The 435 MWp project is among the larger solar projects being developed in Uttar Pradesh and will add renewable power generation capacity to the state
The mechanism attempts to address a growing tension in India's renewable build-out
According to the company, the transaction has reduced borrowing costs by about 150 basis points across the issuing SPVs
