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
Technology

Atlas Copco Unveils Innovation Centre in Pune for Smart Manufacturing

Atlas Copco Tools has inaugurated its first Smart Factory Innovation Centre in India, a cutting-edge facility in Pune designed to showcase advanced technologies powering Smart Integrated Assembly ecosystems. The centre will serve as a hub for businesses across automotive, aerospace, electronics, heavy machinery, and manufacturing sectors to explore automation and smart manufacturing solutions for zero-defect production.The Innovation Centre offers hands-on demonstrations of the latest torquing and dispensing technologies, highlighting software-driven solutions that optimize efficiency, enhance..

Next Story
Resources

Elite Elevators Unveils India’s First Fully Customizable Home Elevator

Elite Elevators, a leader in the premium home lift segment, has launched Elite Elevators Bespoke—India’s first fully customizable luxury home elevator. The launch event, held at the company’s Chennai headquarters, showcased how the new offering redefines residential mobility by integrating state-of-the-art technology with personalized design.Speaking on the launch, Vimal Babu, Founder and CEO, Elite Elevators, said, “At Elite Elevators, our mission has always been to revolutionize home mobility with world-class innovations. Through its enhanced customizable features, our Bespoke elevat..

Next Story
Real Estate

Under-Construction Homes Now Costlier Than Ready-to-Move Properties

Under-construction (UC) homes are now more expensive than ready-to-move (RTM) properties across major Indian metros, according to the latest insights from Magicbricks.In Delhi, UC homes are priced at Rs 25,921 per sq. ft., surpassing RTM properties at Rs 18,698 per sq. ft. Similarly, in Gurugram, UC homes cost Rs 17,185 per sq. ft., compared to Rs 14,617 per sq. ft. for RTM properties.Mumbai, India’s costliest real estate market, has also seen a sharp rise, with UC home prices soaring 33.4 per cent Y-o-Y in Q1 2025 to Rs 32,371 per sq. ft., while RTM properties stand at Rs 28,935 per sq. ft...

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?