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

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code