Tata secures financing for 25 MW Indian PV project

Share

The company says the debt requirement will come from a consortium of domestic lenders, which comprise the State Bank of India and the Export Bank of India. SBI Capital Markets, meanwhile, will act as sole financial advisor and arranger.

In a statement, Tata commented, "The company completed pre-disbursement conditions under the financing agreements for availing interim disbursement and received the first loan disbursement on December 8, 2011."

Project investment is said to total around Rs.365 crore (approximately US$6.8 million; €5.2 million) and is being funded through a debt-equity mix of 70:30. "The project financing comprises equity of Rs110 crore and rupee term loans of Rs255 crore," continued the company.

The photovoltaic project, when complete, will occupy an area of 100 acres and will employ crystalline silicon technology. A power purchase agreement has been signed with Gujarat Urja Vikas Nigam. The project is expected to start generating power this December.

The company could not be reached for further comment.

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Popular content

Chinese developer switches on world’s largest perovskite-based PV plant

09 December 2024 MicroQuanta, a Chinese perovskite solar specialist, has commissioned a 8.2 MW PV facility based on its 90 W perovskite panels in eastern China.

Share

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.