Cargo Solar Power Plant

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The project entails the setting up of a solar thermal power generation plant of 25 MW based on parabolic trough technology, at Village Khanpur, Taluka Raper, District Kutch in the State of Gujarat,by Cargo Solar Power (Gujarat) Pvt Ltd. It is the first CSP project in the country with thermal storage. The sponsor is Cargo Power & Infrastructure, a wholly owned subsidiary of Cargo Motors. The project received Letter of Intent from the government of Gujarat in 2009, however the financial close was delayed due to land acquisition issues. The project has signed a PPA with Gujarat Urja Vikas Nigam Ltd (GUVNL). The duration of the PPA was unavailable. The total project cost is USD $112.5 million. Financing comprises a USD $76 million 15-year-9-month term loan by SBI and USD $36.5 million equity. Financial close occurred on 8 September 2015. i) Dealogic ii) http://www.cpil.co.in/index.php?option=com_content&view=article&id=2:cargo-power&catid=3:latestupdate&Itemid=101 iii) http://www.cseindia.org/userfiles/State%20of%20CSP%20in%20India%20low.pdf iv) http://social.csptoday.com/markets/india%E2%80%99s-pv-led-solar-growth-casts-eyes-performance-csp-projects v) http://industrymonitor.in/energy/2010/11/status-of-solar-power-projects-in-gujarat/