Essel Urja Solar Power Project

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The project entails the construction of a 55MW greenfield solar power plant in village Shahjanpur and Tikavali, Taluka Kalpi, district Jalaun, in the state of Uttar Pradesh, by Essel Urja Pvt Ltd. The solar plant is expected to generate 85 million units per year and will help to light 25000 houses in the state. Sponsor is Essel Infraprojects (100%). The project was awarded in a process of competitive bidding under the Uttar Pradesh Solar Power Policy 2013 for a period of 25 years. The PPA was signed for 12 years with Uttar Pradesh Power Corporation Limited (UPPCL) and the PPA was published on the state government website. The total project cost is USD $62.4 million. Financing comprises a USD $46.5 million 13-year-6-month term loan provided by PFS- a PTC Financial Services initiative, and a USD $15.9 million equity. Financial close occurred on 2 June 2015. i) http://upneda.org.in/sites/all/themes/upneda/pdf/solar-energy-program/PPA_UP_Solar_Project_27122013essel.pdf ii) Dealogic iii) http://www.esselinfraprojects.com/admin/mediaDownloads/UP%20Solar%20Power%20Plant-%20Press%20Release-%20Final.pdf iv) http://mnre.gov.in/file-manager/UserFiles/state-power-policies/UP-Solar-Power-Policy.pdf