TATA secures funding for 25MW solar system

Facebook
Twitter
LinkedIn
Reddit
Email

Having secured funding, Tata Power is continuing with its three-fold project in cooperation with BP Solar installing plants located in the Patan, Kutch and Mithapur areas of the state of Gujarat to be completed under its Solar Power Policy 2009.

Finance agreements for the 25MW project at Mithapur were signed on December 2. The project is worth approximately Rs365 crore and is being funded through a debt-equity mix of 70:30. Financing comprises equity of Rs110 crore and rupee term loans of Rs255 crore. Lenders include State Bank of India and Export Import Bank of India with SBI Capital Markets acting as the sole financial advisor and arranger.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

This plant is likely to be one of the largest of its kind in the country and will be ready to inject power into the system by the end of this month.

Speaking on the announcement, Anil Sardana, managing director at Tata Power, said, “We would like to thank the government of Gujarat for the support extended for setting up this solar power project at Mithapur. The signing of the financing agreements is a significant milestone for the project, and we take this opportunity to thank our investors who have once again shown faith in Tata Power. We look forward to participating in many such initiatives in solar power.”

This summer however, protestors lined up on the coast against the industrial development on the coastal region of Kutch. Around 3,000 villagers, including fishermen, salt pan workers and farmers from about ten villages in the surrounding area held a 50km rally from Bhadreshwar to the district headquarters in Bhuj.
 

Read Next

September 15, 2025
Advances in edge-based artificial intelligence are helping make solar and storage interoperable by tackling the data challenge, writes Andrew Foster.
September 15, 2025
Italy’s latest renewable energy tender has received 12GW of bids, of which the majority, 10GW, came from solar PV.
September 15, 2025
Sunrun has priced a securitisation of leases and power purchase agreements, taking its non-recourse debt capital raised in Q3 above US$1.5 billion. 
September 15, 2025
Norwegian energy firm Statkraft has agreed to divest a portion of its renewable energy portfolio to Serentica Renewables.
September 15, 2025
UNSW spin-out company Lab360 Solar has been awarded funding from ARENA to bring its drone-based PV inspection technology to market.
Premium
September 15, 2025
The UK government and solar industry have jointly published a long-anticipated roadmap detailing how to maximise the country’s solar potential. Chris Hewett, CEO of Solar Energy UK takes a closer look at the details.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines