AC Energy and Infrastructure Corporation (AC Energy), together with its partner UPC Solar Asia Pacific, reached financial close for its 100 MW (140 MWp) Sitara Solar Farm in India.
Located in Rajasthan, a desert state with the highest irradiation in India, Sitara Solar has an estimated project cost of US$67 million. The construction of the solar farm started last in 2020, and is expected to start its power generation by the first half of 2021.
Sitara Solar secured a 20-year loan from the US International Development Finance Corporation (DFC), to be funded through a 75:25 debt-to-equity financing scheme. In March 2019, UPC-AC Energy Solar won the power supply agreement for the 100 MW solar project via a competitive bid fixed over a 25-year period.
Country updates
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March 16, 2021
Adani, O2 Power acquire stakes in 250 MW solar PV project in Jodhpur
Adani Group's green energy firm Adani Green Energy Ltd. (AGEL) has been in advanced discussions for the acquisition of stakes in the 250 MW photovoltaic solar park located in Bhadla, Jodhpur district,...
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March 12, 2021
AGEL commissions 100 MW wind project in Kutch
AWEKTL, a subsidiary of Adani Green Energy Limited (‘AGEL’), has commissioned a 100 MW wind project located in Kutch district, in the state of Gujarat, India. The plant has a 25-year...
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March 10, 2021
Orix buys 21.8% of Indian renewables operator Greenko
ORIX Corporation has completed its acquisition of shares in Greenko Energy Holdings. Simultaneous to acquiring issued shares in Greenko, ORIX integrated its entire wind power generation business in I...
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February 23, 2021
Shapoorji Pallonji, Mahalaxmi Konal Urja to build 80 MW Floating solar with 20 MW Hydropower plant project in Middle Vaitarna Dam
Shapoorji Pallonji & Company and Mahalaxmi Konal Urja have won a contract to jointly develop an 80 MW Floating solar with 20 MW Hydropower plant project in Middle Vaitarna Damm, Maharashtra, India...
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February 22, 2021
Sustainable Infrastructure Income Fund surpasses EUR100 million
ThomasLloyd, one of the world’s leading specialist impact investors and providers of climate financing, has announced that its Sustainable Infrastructure Income Fund (SIIF) has surpassed EUR100...
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