Zelestra (formerly SolarPack) has closed a EUR 132 million (US$ 147.2 million) project financing package for its 435 MW Gorbea solar plant in Rajasthan, India.
The financing has been signed with HSBC, Credit Agricole, MUFG and Bank of America. The Gorbea plant is expected to generate an amount of energy equivalent to the annual consumption of more than 128,000 households in India. It will also help to avoid the emission of approximately 13.3 million tonnes of carbon over the lifetime of the project. The plant will supply power for the next 25 years to the Solar Energy Corporation of India (SECI), a company of India's Ministry of New and Renewable Energy.
The deal has been advised by Catalyst Trusteeship (Facility Agent & Security Trustee), TUV Rheinland (Lender’s Technical Advisor), Cyril Amarchand Mangaldas (Lender’s Legal Counsel), Luthra & Luthra (Borrower’s Legal Counsel), Indian Insure (Lender’s Insurance Advisor) and AECOM (Environmental & Social Advisor).
