Welspun 100MW Solar Plant- Tamil Nadu

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The project entails the development of a 100MW AC grid connected solar power plant to be established in District Trichy in the state of Tamil Nadu, India by Welspun Solar Technology Private Ltd. The sponsor Welspun Renewables Energy Pvt Ltd has secured a 25 year power purchase agreement (PPA) with the Tamil Nadu Generation and Distribution Corporation (Tangedco). Under its terms, Tangedco will buy the generated electricity at INR 7.01 (USD 0.112/EUR 0.105) per kWh. The total project cost of USD $102 million(INR 7 billion) is to be funded in the debt to equity ratio of 74:26. Financing comprises a USD $75 million (INR5.2 billion) long term facility, a USD $2.9 million (INR200 million)working capital facility and a USD $6.5 million(INR 450million) hedge facility to be arranged by State Bank of India and sponsor equity of USD $ 27 million(INR 1.8 billion). Financial close occurred on 18 June 2015. Sources: 1) Dealogic 2) http://www.pv-magazine.com/news/details/beitrag/india--welspun-to-develop-87-gw-of-solar-on-back-of-strong-investment-_100020509/#axzz40bbpHTYd 3) http://www.thehindubusinessline.com/companies/welspun-to-set-up-100-mw-solar-plant-in-tamil-nadu/article7000055.ece 4)http://articles.economictimes.indiatimes.com/2015-01-22/news/58344041_1_welspun-renewables-power-purchase-agreement-committed-timelines 5)https://ijglobal.com/data/transaction/33514/tamil-nadu-solar-park-100mw