Financial Close for 450 MW Solar PV project in India
EDEN Renewables India (“EDEN”) an equally owned joint venture of Total Eren and EDF Renouvelables, dedicated to large-scale Indian solar photovoltaic (PV) projects, has successfully secured Financial Close for its 450 MWp SECI III solar PV project, with a group of three major international banks.
The SECI III project has been successfully financed through a green limited recourse project term loan of USD165 million provided by DBS Bank Ltd, Standard Chartered Bank, and Sumitomo Mitsui Banking Corporation (Singapore Branch).
For this transaction, EDEN was advised by Herbert Smith Freehills and L&L Partners Law Offices as legal advisors, and Chatham Financial Europe as hedge benchmark advisor.
The project, currently under construction in Rajasthan, Northern India, was awarded to EDEN within the context of a tender launched by the Solar Energy Corporation of India (SECI), following which EDEN signed a Power Purchase Agreement (PPA) with SECI in June 2019. The project’s commissioning is expected towards the first half of 2021.
Country news
-
-
July 02, 2020
Enel Green Power wins 420 MW solar tender in India
Enel Green Power (EGP), through its subsidiary EGP India, has been awarded the right to sign a 25-year energy supply contract for a 420 MW solar project in India, which will be located in the State of Rajasthan and will be EGP´s first solar plant in the country. The project was awarded under the 2 GW Ninth Tranche of the national solar tender issued by the government company Solar Energy Corporation of India Limited (SECI).
Read more -
June 12, 2020
Adani Green Energy Wins $6bn 8 GW Solar Award in India
Adani Green Energy Limited (AGEL) has won the first of its kind manufacturing linked solar agreement from the Solar Energy Corporation of India (SECI). As a part of the award, AGEL will build 8 GW of solar projects across India along with a commitment that will see Adani Solar establish 2 GW of additional solar cell and module manufacturing capacity.
Read more -
April 28, 2020
KKR signs agreement to buy 317 MWp of Indian solar projects
KKR and Shapoorji Pallonji Infrastructure Capital (SP Infra) have signed definitive agreements under which KKR will acquire five solar energy assets from SP Infra for a total consideration of INR15.54 billion (approximately US$204 million).
Read more -
April 22, 2020
India extends timeline for renewable energy projects due to COVID-19
The Government of India has extended the deadline of all renewable energy projects currently under development because of the lockdown brought by COVID-19 pandemic.
Read more -
March 24, 2020
SECI tenders 2 GW wind and 2 GW solar projects in India
The Solar Energy Corporation of India (SECI) has launched two tenders for the development of ISTS-connected wind and solar projects with up to 2 GW each aggregate capacity under tariff-based competitive bidding.
Read more
