MUML Project Secures Financing to Boost Mumbai's Power Supply
POWER & RENEWABLE ENERGY

MUML Project Secures Financing to Boost Mumbai's Power Supply

The MUML Project, awarded in June 2020 under Tariff Based Competitive Bidding (TBCB), is set to enhance Mumbai and Navi Mumbai’s power infrastructure, delivering over 2,000 MW of additional electricity. Spanning across Maharashtra, Gujarat, Assam, and Arunachal Pradesh, the project is a pivotal part of India's western and northeastern region strengthening schemes.

The financing for this ambitious project includes the first Non-Convertible Debenture (NCD) issuance by SGL32, following its joint venture with Singapore’s GIC. This move strengthens the financial backing for the MUML Project, which is integral to India’s green energy corridor, facilitating the evacuation of 20 GW of renewable energy from Rajasthan.

Pratik Agarwal, Director of SGL32, emphasized the importance of this transaction, noting, “This transaction highlights our ability to diversify financing sources and secure cost-efficient funding.” The project’s success will further solidify India’s commitment to renewable energy development and enhance power distribution capabilities for the region.

Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

The MUML Project, awarded in June 2020 under Tariff Based Competitive Bidding (TBCB), is set to enhance Mumbai and Navi Mumbai’s power infrastructure, delivering over 2,000 MW of additional electricity. Spanning across Maharashtra, Gujarat, Assam, and Arunachal Pradesh, the project is a pivotal part of India's western and northeastern region strengthening schemes. The financing for this ambitious project includes the first Non-Convertible Debenture (NCD) issuance by SGL32, following its joint venture with Singapore’s GIC. This move strengthens the financial backing for the MUML Project, which is integral to India’s green energy corridor, facilitating the evacuation of 20 GW of renewable energy from Rajasthan. Pratik Agarwal, Director of SGL32, emphasized the importance of this transaction, noting, “This transaction highlights our ability to diversify financing sources and secure cost-efficient funding.” The project’s success will further solidify India’s commitment to renewable energy development and enhance power distribution capabilities for the region.

Next Story
Infrastructure Energy

BrightNight Commissions 115 MW Hybrid Power Project in Maharashtra

BrightNight, a prominent global renewable energy producer, has launched the first phase of its 115 MW hybrid renewable energy project, Optima Maharashtra, in Dharashiv, located in southern Maharashtra. This marks one of the state’s pioneering co-located wind and solar projects and signifies BrightNight's inaugural energy supply to India's national power grid, furthering the nation's goal of decarbonising its energy sector. Spanning around 14,000 acres, the project integrates cutting-edge wind and solar technologies, powered by BrightNight’s proprietary AI-driven PowerAlpha® platform. The ..

Next Story
Infrastructure Energy

Maha and Rajasthan Lead Solar-Powered Agriculture Under KUSUM Programme

Maharashtra and Rajasthan are leading the way in the adoption of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) programme, specifically under Component C. This component aims to scale renewable energy infrastructure, addressing both agricultural sustainability and energy security. The two states are expected to contribute over 10 GW of solar capacity under the PM-KUSUM programme by 2025. The PM-KUSUM programme consists of three key components: small-scale solar projects (Component A), the installation of standalone solar-powered pumps (Component B), and the solarisat..

Next Story
Infrastructure Energy

Odisha Floats EPC Tender for 4 MW Solar Projects with Battery Integration

The Odisha Renewable Energy Development Agency (OREDA) has released a tender for the engineering, procurement, and construction (EPC) of 4 MW rooftop solar projects with integrated battery systems. These projects will be implemented across various locations in Odisha under a rate contract basis. Bids must be submitted by January 27, 2025, with bid opening scheduled for February 1. Bidders are required to submit a bid security of Rs 300,000 ($3,600), a bid cost of Rs 10,500 ($126), and a processing fee of Rs 1,000 ($12). The selected bidders must be responsible for designing, engineering, suppl..

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