Divine Solren Solar park

active

The project envisages the construction and operation of a 50 MW (AC) solar park at Alidabad District, state of Telangana. It is being developed by Divine Solren Private Limited (a project company) on behalf of the sponsor - Mahindra & Mahindra Group. This is a new, greenfield project initiated under a BOO modality. The project benefits from a long- term (25 years) PPA signed with Northern Power Distribution Company Ltd of Telangana for the total output of the park. The concession contract was awarded following a competitive bidding auction based on lowest tariff per unit. Financial closure was estimated to have reached in February 2017. Total investment amounts to $59.56 million and is being funded via 80:20 debt to equity. Debt portion was provided by Yes Bank ($47.66 million) with the remaining funds being contributed by the sponsor - $11.9 million. https://global.factiva.com/pro/default.aspx?napc=S&_XFORMSTATE=AFB7MTp7MTA5OnsxOjAsMjoiRCIsMzowLDQ6MCw1OiJwcm9ial9hcHBsaWNhdGlvbl9wZGY6YXJjaGl2ZS9BRklPUkgyMDE3MDcxNzAwMDMzLzQ4LzQwMDE5Mi9DQVJFUlQwMPwDCmVkN2MwMDAxdCJ9fX0RAAB3AAAA&sa_from=GL