Bondada Engineering Ltd said in a BSE filing on October 5, 2026, that its subsidiary, Onix IPP Private Limited, has received a ₹911.25 crore financing sanction from State Bank of India for a 225 MW solar Independent Power Producer (IPP) project.

Onix IPP is developing the project, with SBI as the lending institution. The sanctioned package includes both term loan and non-fund-based facilities, making the total sanction distinct from the term loan component alone.

The disclosure concerns receipt of the financing sanction. It does not state that the sanctioned funds have been disbursed or that the solar project has commenced operations.

SBI facility includes ₹900 crore term loan

Bondada detailed the two components of the sanctioned financing package:

  • ₹900 crore in term loan facilities for the solar IPP project.
  • ₹11.25 crore in non-fund-based facilities, taking the total sanctioned amount to ₹911.25 crore.

The 225 MW solar project is supported by a 25-year Power Purchase Agreement with Maharashtra State Electricity Distribution Company Limited (MSEDCL). Bondada said this agreement provides long-term revenue visibility and predictable cash flows over the project tenure.

The filing identifies MSEDCL as the power purchaser and SBI as the lender. It does not disclose the power tariff, loan interest rate, repayment schedule or project commissioning date. The 25-year period disclosed relates to the power purchase agreement.

Expansion of renewable energy IPP portfolio

Bondada described the sanction as a milestone in its plan to expand its renewable energy IPP presence and build a portfolio of long-term, annuity-based renewable energy assets.

The company said it expects the project to strengthen its renewable energy portfolio and improve long-term revenue visibility. These are the company's stated expectations; the filing does not quantify future project revenue or earnings contributions.

Alongside IPP projects, Bondada said its renewable energy platform continues to pursue EPC, O&M and BESS opportunities as part of its diversification plans. The company submitted the financing disclosure under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. Bondada trades on BSE under scrip code 543971 and symbol BONDADA.