Hero Ratlam 100 MW Wind Power

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The project entails the development of a 100MW wind power project in Bhadnawar Tehsil, Dhar district in the State of Madhya Pradesh, by Clean Wind Power (Ratlam) Pvt Ltd. Sponsors are Hero Wind Energy and Hero Future Energies. As per the MP state wind policy, power plants are built on a Build, Own and Operate(BOO) basis for a period of 25 years from the Commercial date of Operation. The state government invites proposals for allocation of projects from time to time and are bid competitively based on the tariff, if more than one party shows interest. The project is also eligible for revenue subsidy under the Generation Based Incentive Scheme in the Wind Power Sector in India. The total project cost is USD $107.2 million (INR 7.2 billion). Financing comprises a USD $84.9 million (INR 5.7 billion) 12-year term loan and an equity contribution of USD $22.3 million (INR 1.4 billion). ICICI Bank is the Mandated Lead Arranger and facility agent. Financial close occurred on 9 December 2015.