Welspun 100MW Solar Project- Andhra Pradesh

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The project entails the development and operation of a 100 MW (comprising of the Phase I of 50 MW and Phase II of 50 MW) greenfield solar PV project in the Kurnool and Kadapa Districts of the State of Andhra Pradesh, by Welspun Renewables Energy. Sponsor is Welspun Energy Ltd. The project was allocated to Welspun as part of the bidding process for 500 MW capacity organised by the Andhra Pradesh government in October, 2014. In the auction, a total of 49 qualified bidders had bid for 63 projects with a total quoted capacity of 1291 MW. Welspun had bid for 345 MW capacity but was allocated 100 MW. The PPA was signed in January, 2015. INR975m (US$17.7m) Financing comprises a INR975m 15-year term loan. provided by EXIM Bank of India. Facility agent is IDBI. Legal adviser to lender is Desai & Diwanji. Financial close occurred on 21 December 2015. i) http://www.welspunrenewables.com/pdf/PressReleaseAP-22Jan15.pdf ii) Dealogic iii) https://ijglobal.com/data/transaction/33100/welspun-andhra-pradesh-solar-project-100mw iv) http://www.re-solve.in/perspectives-and-insights/andhra-pradesh-bids-totalling-1291-mw-vs-500-mw-allocation-capacity-welspun-bids-for-345-mw/ v) http://www.solarquarter.com/index.php/news/asia/india/item/845-welspun-renewables-signs-100-mw-solar-ppa-in-andhra-pradesh