Zelestra concludes 132 million Euros financing for 435 MW solar PV project in Rajasthan – EQ
In Short : Zelestra has secured $146 million in financing for a 453 MW solar project in Rajasthan. This significant investment will drive the development of one of the state’s largest solar power projects, contributing to India’s growing renewable energy capacity. The project supports the country’s clean energy targets, reducing carbon emissions and bolstering sustainable energy infrastructure.
In Detail : Zelestra has concluded a 132 million Euros financing for a 435 MW solar photovoltaic (PV) project in Gorbea, Rajasthan.
HSBC, Credit Agricole, MUFG, and Bank of America are the banks supplying the financing to the project. The financing received by the plant is assigned as green financing under Zelestra’s Green Financing Framework.
This aligns with the green loan principles issued by the loan market association. The solar project will be used to supply power to the Solar Energy Corporation of India Limited for a period of 25 years.
This strategic investment marks a significant milestone for both Zelestra and India’s renewable energy landscape, reinforcing the country’s commitment to expanding its solar energy capacity and promoting sustainable energy solutions.
The 453 MW solar project in Rajasthan is poised to become one of the largest solar installations in the region. Rajasthan, with its abundant sunlight and vast open land, presents ideal conditions for solar power generation. The project will utilize advanced photovoltaic technology to maximize energy production while minimizing land use.
The solar facility will be strategically located in an area that experiences high solar irradiance, ensuring optimal energy capture throughout the year. This project not only contributes to renewable energy generation but also plays a crucial role in job creation, community development, and local economic growth in the surrounding areas.
