The Solar Energy Corporation of India Ltd. (SECI) has invited proposals for a 20-year, INR 1,000 crore (~$120 million) term loan to finance a 300 MW solar project in Andhra Pradesh. Part of the CPSU Scheme Phase-II, the project benefits from INR 44.72 lakh per MW viability gap funding and aims to supply power at INR 2.57 per kWh. Spread across 1,178 acres in Ramagiri and Muthuvakuntla, the project’s cost is INR 1,418.65 crore (~$170 million), with funding split between debt (70%) and equity (30%). SECI has secured land and power evacuation facilities and floated tenders for modules and EPC contracts.
SECI issues financing bid for 300 MW solar in Andhra
The CPSU-backed 300 MW solar project will benefit from INR 44.72 lakh per MW viability gap funding. (Image Credit/Source: PublicDomainPictures/Pixabay)
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