Brookfield RJ

active

Brookfield RJ is a group of special purpose vehicles (SPVs) (collectively the Borrower(s)) developing ~560 MWp portfolio of ground mounted open access (OA) solar plants on one contiguous polygon in Bikaner District, Rajasthan (site coordinates: 28°08'04.4N / 73°06'32.4E) supplying power to commercial and industrial (C&I) clients through a long-term power purchase agreement (PPA) and sale of power on exchange such as Indian Power Exchange (exchange). The SPVs are wholly owned by BGTF Holdings DIFC Limited (the “Sponsor”). BGTF Holdings is 80% held by Brookfield Asset Management, and 20% Brookfield Renewable, collectively referred to as the Sponsors (https://www.Brookfield.com).The total project cost is estimated to be US$ 317 million of INR equivalent. The proposed investment consists of senior debt financing of up to US$95 million in INR equivalent to finance the development of the solar plants. Brookfield Renewable is one of the world’s largest publicly traded platforms for renewable power and decarbonization solutions. Their diversified 21,000 MW capacity portfolio consists of hydroelectric, wind, solar, distributed energy, and sustainable solutions across five continents.At the time of IFC’s appraisal in May 2023, the Sponsor and the Engineering, Procurement and Construction (EPC) contractor (Jakson Green Pvt Ltd. https://www.jakson.com/) were preparing to start construction. Total project capacity will be 560 MW DC / 400 MW AC. Total land area required is approximately 680 hectares. This land is being acquired through voluntary 29-year lease agreements negotiated with over 100 private landowners by renewable energy firm Aright Greentech (https://arightgreentech.com/). Project power will be channelled through the new Bikaner II substation via a 220 kV transmission line (TL) with a length of 10.5 km. Bikaner District is situated in the middle of the Thar desert and has a hot desert climate (Köppen climate classification BWh) in Western India with very little rainfall and extreme temperatures. The closest settlement to the project site is Kawani village situated 600 meters to the northeast where many of the landowners who agreed to lease land to the project live. The land for the project site and transmission line consists mainly of open scrublands and modified rainfed agricultural lands.