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IFC To Lend $15M To Bhilwara Energy For Wind Power Project

According to reports, International Finance Corporation will lend $15 million to Bhilwara Green Energy Ltd, to develop, own and operate a 51 MW wind farm in Maharashtra. This venture also marks an expansion of activities for Bhilwara Energy, which has been primarily involved in hydroelectric projects.

The wind power project will be built under EPC contract with ReGen Powertech, an Indian company which designs, manufactures and installs gearless wind turbine generators, using German technology licensed from Vensys AG.

The power will be sold to Maharashtra State Electricity Distribution Company under a 13-year Power Purchase Agreement (PPA). In addition, the project will be eligible to receive generation-based incentives.

The expected total project cost is approximately $71.5 million and IFC will provide up to $15 million as loan to Bhilwara Green Energy Ltd.

Last July, IFC had invested $25 million to purchase 5.24 per cent stake in Bhilwara Energy. Incidentally, the firm is the holding company, which invests and develops all hydro and other renewable projects of the LNJ Bhilwara Group.

One comment

  1. I have been going through the posts on this blog and are really informative and interesting.

    We are thinking big on the Wind Power Projects and already invested in around 16.8 MW in TN this year. Now with the expansion thoughts in the mind, we are looking for VCs/Funding options from banks – at a less interest rate, such that we can expand our activities.

    Do you think you can help with some details. Will be very pleased to work on that.

    Thanks & Regards
    Krishna Kumar

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