GuarantCo 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 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.

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.

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).