Lightsource Solar PV (Maharashtra)

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The project entails the construction, development and operation of a 50 MW (net) solar farm in Maharashtra, India. The project is undertaken by Lightsource Renewable Energy and UK Climate Investments Joint Venture. The project will include more than 200,000 solar panels that will be laid on 240 acres of land. When completed, the project will generate enough energy to power 20,000 homes. The contract was awarded in a competitive tender process in 2016. Lightsource won the project by quoting a VGF of R1.96 million ($30,142) along with the fixed tariff of R4.43 ($0.068)/kWh under NSM Phase-II, Batch 4 VGF program. UK Climate Investments has taken a 49% equity stake in the solar project, with Lightsource owning the other 51%. This is a greenfield project initiated on a BOO basis with a 25-year power purchase agreement with SECI. Total investment amount was reported to be $39.3 million (R 256 crore), of which the VGF will cover $1.5 million. As of December 2017, no further financing details are disclosed. Financial close was reached on 24th October 2017. https://ijglobal.com/data/transaction/39558/maharashtra-pv-solar-farm-60mw https://www.pv-tech.org/news/indias-seci-sees-lowest-ever-vgf-bids-in-450mw-maharashtra-solar-auciton https://mercomindia.com/lightsource-uk-climate-investments-establish-partnership-fund-indian-solar-projects/ Lightsource Renewable Energy to be added to sponsors' list;