Green Infra Limited(GIL), a holding Company founded by IDFC Private Equity (“IDFC PE”) to develop, operate and construct renewable energy generation assets in India. GIL was founded in 2008 by IDFC PE, a 100% subsidiary of IDFC, to develop renewable energy projects across sub-sectors such as wind, solar, hydro and bio-mass. In the last two years, GIL has established operational capacity of 238.7 MW spread across Maharashtra, Tamil Nadu, Karnataka, Rajasthan and Gujarat.
IFC is considering providing an overall envelope for debt funding in the amount of US$50 million, to be used over the next two years for various projects that GIL is developing (the “Project”). The first tranche of this financing is expected to be provided to two subsidiaries of GIL, Green Infra Solar Farms Limited (GISFL) and Green Infra Solar Projects Limited (GISPL) that are developing 20 MW and 5MW capacity respectively of solar power generation in Rajasthan, India (collectively referred to as the “Rajasthan Project”.)
The Rajasthan Project involves: purchase of 106 acres of private land and transfer of 54 acres of government land allocated to this project; installation of fixed frame thin film photo voltaic (PV) modules; installation of galvanized steel frames for mounting PV modules; inverters; transformer; sub-station; 33 KV evacuation line (which connects to the grid); water treatment plant for module cleaning purpose; and office and stores. The Rajasthan Project team has the option of evacuating power to one of two sub stations, which are 3.5 km and 8 km from the site respectively.
Other projects that GIL is developing, which IFC may consider for financing under the facility, include a 99 MW wind project in Karnataka, a 31.5 MW wind project in Tamil Nadu, and a 12 MW run of the river hydropower project in Himachal Pradesh.