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SEI Solar Looking To Raise Funds Via IFC
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The company has set up its solar project in Rajasthan.
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Monday, November 19, 2012:
SEI Solar Power, a leading solar-energy company is looking to raise loan of $34.3 million from International Finance Corporation (IFC) to support its 24 MW greenfield solar PV power plant project in Rajasthan.
The total output of the project will be sold to the state owned power trading company, NTPC Vidyut Vyapar Nigam Ltd, under a year 25 PPA signed on January 2012.
SEI Solar Power is a Joint venture between SunEdison Energy Holding, Singapore, which is an IFC investee and Astronergy Solar Korea Co. Ltd., a subsidiary of Chint Solar (Zhejiang) Co., Ltd, a CHINT Group company.
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The project was awarded under the second batch of first phase of India’s Jawaharlal Nehru National Solar Mission. Twenty two photovoltaic solar power projects, which were announced under Jawaharlal Nehru National Solar Mission scheme have achieved financial closure this year. Once completed, these 21 projects will add a total capacity of 340 MW and majority of these projects are expected to be completed by 2013. Most of the projects, in count 19, are based in Rajasthan.
SunEdison is a solar power system integrators/installers in North America and globally and Chint Solar, a China-based private Company, is the solar panel manufacturing arm of CHINT Group Corporation, China’s leading player in the electrical industry.
Aadeetya S, EFYTIMES News Network
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