ACME Raipur Solar Power Project

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The project entails the development, construction, operation and maintenance of a greenfield 30 MW solar power plant based on poly crystalline PV cell technology at village Salehbhat/Bikapali in Tehsil Bagbahara, Mahasamund District, Chhattisgarh, India. The project company is ACME Raipur Solar Power Private Ltd and the sponsor is ACME Cleantech Solutions. The company emerged as the developer for 30 MW solar PV power projects at the bid-opening event at Raipur under RFP floated by Chhattisgarh State Power Distribution Company (CSPDCL) on April 1, 2014. As per the terms and conditions of the bidding document, the company signed a 25-year long power purchase agreement with the CSPDCL based on the tariff submitted in the bid. The total project cost is USD $32.1 million (INR 2.1 billion) to be financed in debt to equity ratio of 74/26. Financing comprises a USD $ 23.8 million (INR 1.56 billion) 15-year term loan by PTC India Financial Services and sponsor equity of USD $8.3 million( INR 540 million). Financial close occurred on 13 August 2015. 1) Dealogic 2) IJ global: https://ijglobal.com/data/transaction/32300/chhattisgarh-solar-pv-project-30mw 3) http://www.thehindubusinessline.com/companies/acme-solar-wins-30-mw-projects/article6098138.ece

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