Gorbea solar plant (435MW)

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This project involves the development of the Gorbea Solar Photovoltaic Plant, located in Rajasthan, India, with a total installed capacity of 435 MW. The project includes the construction and operation of a utility-scale solar farm designed to generate clean energy equivalent to the annual consumption of over 128,000 households. Over its lifetime, the project is expected to avoid approximately 13.3 million tonnes of carbon emission. The sponsor for this initiative is Zelestra, a global renewable energy company backed by EQT, one of the world’s largest fund managers. The plant is planned to supply electricity under a 25-year power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI). The total project financing amounts to $147.06 million, secured in Indian Rupees (INR) as green financing, provided by HSBC, Credit Agricole, MUFG, and Bank of America, with Credit Agricole CIB committing $39 million equivalent in INR. Financial close took place in September, 2024. https://zelestra.energy/zelestra-closes-e132-million-financing-for-its-gorbea-solar-plant-in-india/; https://www.ca-cib.com/en/news/credit-agricole-cib-and-credit-agricole-group-international-business-solutions-support