Eden secures $165 mn finance for 450 MW solar project
POWER & RENEWABLE ENERGY

Eden secures $165 mn finance for 450 MW solar project

Leading solar power developer Eden Renewables India has tied up with Standard Chartered Bank, DBS Bank Ltd and Sumitomo Mitsui Banking Corporation (Singapore Branch) for $165 million (approximately Rs 1,200 crore) funding for its 450 MW peak solar power project in Rajasthan.

According to a statement, Eden Renewables India (Eden) successfully secured financial assistance for its 450 MWp (megawatt peak) SECI-III solar photovoltaic (PV) project, with a group of three major international banks.

The SECI-III project is being financed through a green limited recourse project term loan of $165 million provided by Standard Chartered Bank, DBS Bank Ltd and Sumitomo Mitsui Banking Corporation (Singapore Branch).

The project, currently under construction in Rajasthan, 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 in the first half of 2021.

Eden Renewables India has expressed its eagerness to provide expertise in high-scale solar PV farms to contribute to a low carbon environment in the country which is in line with the country's objective of achieving 40% non-fossil fuel generation by 2030.

Eden Renewables India was founded in 2016 as a joint venture between EDF Renewables and Total Eren to build and operate solar PV projects across India. As of 2021, the company has 207 MWp operating solar plants, 450 MWp under construction, and over 1,600 MWp under development and due to be commissioned by 2022.

Image Source

Leading solar power developer Eden Renewables India has tied up with Standard Chartered Bank, DBS Bank Ltd and Sumitomo Mitsui Banking Corporation (Singapore Branch) for $165 million (approximately Rs 1,200 crore) funding for its 450 MW peak solar power project in Rajasthan. According to a statement, Eden Renewables India (Eden) successfully secured financial assistance for its 450 MWp (megawatt peak) SECI-III solar photovoltaic (PV) project, with a group of three major international banks. The SECI-III project is being financed through a green limited recourse project term loan of $165 million provided by Standard Chartered Bank, DBS Bank Ltd and Sumitomo Mitsui Banking Corporation (Singapore Branch). The project, currently under construction in Rajasthan, 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 in the first half of 2021. Eden Renewables India has expressed its eagerness to provide expertise in high-scale solar PV farms to contribute to a low carbon environment in the country which is in line with the country's objective of achieving 40% non-fossil fuel generation by 2030. Eden Renewables India was founded in 2016 as a joint venture between EDF Renewables and Total Eren to build and operate solar PV projects across India. As of 2021, the company has 207 MWp operating solar plants, 450 MWp under construction, and over 1,600 MWp under development and due to be commissioned by 2022. Image Source

Next Story
Infrastructure Urban

We operate 100 smart buses serving 30,000 passengers daily

Aurangabad, known as the ‘City of Gates’ owing to its historical monuments and Mughal heritage, is equally renowned for its industrial development, with a nominal gross district domestic product (GDDP) of Rs.988.04 billion. As growth has progressed, there has been a focus on enhancing the standard of living, prompting key initiatives, including the award-winning Majhi Smart  Bus Initiative. G Sreekanth (IAS), CEO, Aurangabad Smart City Development Corporation Ltd (ASCDCL), discusses the city’s ongoing and upcoming developments in conversation  with NEHA YADAV.Recent news h..

Next Story
Infrastructure Energy

Sterling and Wilson Secures Rs 12 Bn Solar EPC Contract in Gujarat

Sterling and Wilson Renewable Energy has been awarded a Rs 1,200 crore contract for a 500-megawatt (MW) solar photovoltaic (PV) project in Gujarat, strengthening its foothold in India’s renewable energy sector. The engineering, procurement, and construction (EPC) contract encompasses the design, engineering, and installation of balance-of-system (BoS) components with single-point responsibility. It also includes operations and maintenance (O&M) services for three years. “We are delighted to secure this significant order, which will aid India, especially Gujarat, in its transition to clean ..

Next Story
Infrastructure Energy

NTPC Green Energy Signs MoU with Bihar Government

NTPC Green Energy (NGEL), a subsidiary of NTPC, has entered into a Memorandum of Understanding (MoU) with the Department of Industries, Government of Bihar, during the Bihar Business Connect 2024 Global Investors’ Summit held on 20 December 2024 in Patna. The MoU outlines plans for substantial investments in Bihar to establish various renewable energy projects, including: Ground-mounted and floating solar installations Battery energy storage systems Green hydrogen mobility initiatives The Bihar Government will assist by facilitating necessary approvals, permissions, registrations, and cleara..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000