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Eden Renewables India has announced that its 300 MW AC SECI III ISTS-grid connected solar farm located in Rajasthan is now feeding power to the grid.
In July 2019, Eden Renewables signed PPAs with SECI for a 450 MWp (300 MWac) solar project in Rajasthan. The capacity was awarded to Eden Renewables for a winning tariff of Rs 2.60 per kWh at the SECI (Tranche III) auction for 1.2 GW of solar capacity. The tender was initially floated in January 2019, and capacities were allotted in the following month.
In January 2021, Eden Renewables announced financial closure for the solar project. The company reported that it successfully financed the project through a green limited recourse project term loan of $165 million provided by DBS Bank Limited, Standard Chartered Bank and the Singapore branch of the Sumitomo Mitsui Banking Corporation.
The 450 MWp PV farm will produce 800 GWh per year, enough to supply more than 650,000 people in India with low-carbon electricity while saving about 760,000 tons of CO2 per year.
Eden Renewables India is a renewable energy company incorporated in 2016 as a joint venture (JV) between Total Eren and EDF Renewables, both of which entered the Indian market in 2013.
The services offered by Eden include project development, engineering, financing, construction, asset management, and operations and maintenance.
The company plans to increase its installed capacity to 2,200 MWp by early 2022. The projects executed by the company are primarily large-scale grid-connected projects with central and state offtakers. The company has been performing well with an active participation in renewable energy auctions.
The company has express its gratitude to Central and State Government authorities, and all other stakeholders for their close and strong support.