- Date d'écriture
- juin, 2026
- Contact pour guarantco
- Alison Hicks
- Directrice principale de la communication
- +44 (0)738 5551967
- [email protected]
- Contact pour PIDG
- Cecilie Sorhus
- Cheffe du personnel et responsable des
- +44 (0)7917 302724
- [email protected]
- Partager
GuarantCo, part of the Private Infrastructure Development Group (PIDG), has provided a partial (50 per cent) payment default guarantee covering two 10+ year loan facilities totalling INR 2.6 billion by Axis Bank, one of the largest private sector banks in India. The two facilities are extended to BE Onsite Solar Energy Pvt Limited, the India operating company of BECIS, a leading Energy as a Service provider. The financing will support up to 60 MW of BECIS solar capacity across India.
BECIS India serves a diversified portfolio of commercial and industrial (C&I) solar customers, including leading domestic corporates and Tier 1 multinationals operating across sectors such as food and beverage, automotives, chemicals, textiles and pharmaceuticals. The financing is expected to accelerate the deployment of renewable energy infrastructure in India, enabling customers to benefit from reliable and cost-competitive clean energy solutions, reduced carbon emissions, and enhanced energy resilience.
The project will contribute to the UN’s Sustainable Development Goals 7 (affordable and clean energy), 8 (decent work and economic growth) and 13 (climate action).
The transaction marks an important milestone for BECIS in capital raising. Having successfully scaled its operations in recent years, BECIS will now expand its access to long-term local currency debt to support continued growth and to diversify its funding base. Axis Bank has played a key role in enabling this phase of growth by extending the loan facilities backed by GuarantCo’s partial guarantee.
In addition to providing credit enhancement, GuarantCo played a leading role in arranging the loan and structuring the transaction, working closely with all parties to deliver a long-term local currency financing solution tailored to BECIS India’s operational growth strategy and funding requirements.
Nishant Kumar, Managing Director of Asia Investments at GuarantCo and Head of Coverage – Asia for PIDG, said:
“In the last 24 months PIDG has expanded its presence in India with a series of trailblazing deals, in recognition of the scale of the national energy transition ambitions and the need for significant market transformation and private capital mobilisation to meet this challenge. Credit enhancement is one of the four solutions provided by PIDG and in this case, PIDG provided partial credit guarantee to effectively de-risk and mobilise private sector capital. This transaction is perfectly aligned with our climate finance goals for India as BECIS is a leading platform for the acceleration of clean energy adoption and a large portion of this facility will be deployed towards developing new renewable power assets.”
Eren Ergin, CEO of BECIS, said:
“India continues to be a strategic market for BECIS, as we pursue opportunities across our portfolio of decarbonisation and energy resilience solutions. We are pleased to have earned the confidence of a leading institution like Axis Bank in supporting our expansion in the solar C&I segment. Securing access to local currency financing remains a key pillar of our growth strategy, and we are delighted to collaborate with GuarantCo on this initiative.”
Vijay Mulbagal – Group Head – Wholesale Bank Coverage, Corporate Salary, Sustainability & CSR, Axis Bank, said:
“Axis Bank remains committed to supporting scalable, sustainable solutions that drive both economic growth and climate impact. This collaboration with GuarantCo and BECIS marks a meaningful step towards expanding access to long-term financing for India’s clean energy transition. By enabling the development of solar capacity across multiple states, this transaction will help accelerate renewable adoption among corporates while strengthening energy resilience.”