According to bank documents, "the project involves financing of a 250 MW solar project being developed by a special purpose vehicle, Clean Solar Power (Jodhpur) Private Limited (“CSPJPL” or the “company”), which was awardedthe projectthrough a competitive bid, at a tariff of INR 2.53 /kWh. CSPJPL signed a 25-year Power Purchase Agreement (“PPA”) with Solar Energy Corporation of India Limited (“SECI”) in November 2018. As per the PPA, the scheduled commercial operation date (SCOD) is October 2020"
HDFC Bank (Debt) US$ 25 million
IFC (Debt) US$ 43 million
Hero Solar Energy Private Limited (Equity) US$ 54 million
According to the bank document,
Parent Company: Hero Future Energies Private Ltd. (HFEPL) (Indian Holding Co.) It is an investee company of International Finance Corporation (IFC).
Sponsor:Hero Solar Energy Private Ltd. (HSEPL), a subsidiary of HFEPL.
Amit Kumar, Senior Investment Operations Specialist