For two separate projects, Madhya Pradesh state is witnessing delaying and associated losses. In one, ReNew Power has been slapped with $1.68 million fine for delays to a 51 MW PV project, and in another case, BHEL’s proposed 10 MW solar plant obstructed by state government.
Under the World Bank and IREDA’s $100 million proposals for solar park development, IREDA has approved its first loan of $33 million to Rewa Ultra Mega Solar Limited (RUMSL) in Madhya Pradesh.
Three firms, Mahindra Renewables, Actis, and ACME group, will receive a combined loan of $440 million from the IFC for developing the Rewa Solar Park in Madhya Pradesh.
Mahindra Renewables has been awarded a 250 MW solar PV project in the Rewa district of Madhya Pradesh. It will receive financing to the tune of around US$50 million from the International Finance Corporation (IFC).
EDEN, a joint venture between EREN Renewable Energy and EDF Energies Nouvelles, has installed three solar power plants in India amounting to 87 MW. The JV now operates 200 MW capacity in India.
Solar Energy Corporation India (SECI), on behalf of Coal India limited (CIL) has invited bids for two 100 MW solar power plants. The government authority will clarify the bidding requirement in a meeting to be held on November 13 in Kolkata.
The guarantee is a unique initiative by the state government of Madhya Pradesh for its Payment Security Mechanism, which had a role to play in the phenomenally low tariff achieved for the Rewa solar project.
ReNew Power Ventures, a leading clean energy company, which has doubled its solar capacity to 2GW in just one year, has projects in trouble backed by Goldman Sachs.
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