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Total Eren and EDF Renewables secure $165 million for 450 MW solar project in India

From pv magazine India

French developers Total Eren and EDF Renewables have announced that their joint venture Eden Renewables India (EDEN) has secured a financial close for its 450 MWp solar project in Rajasthan. The project has raised US$165 million (around INR 1,200 crore) in financing with a group of three major international banks.

“The SECI III project has been successfully financed through a green limited recourse project term loan of US$165 million provided by DBS Bank Ltd, Standard Chartered Bank, and Sumitomo Mitsui Banking Corporation (Singapore Branch),” read a statement.  

Currently under construction in Rajasthan, Northern India, the project was awarded to Eden in a Solar Energy Corporation of India (SECI) auction. SECI signed the power purchase agreement (PPA) with the developer in June 2019. 

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The project is expected to be commissioned within the first half of 2021. 

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Source: pv magazine