Published on November 25th, 2016 | by Saurabh0
Greenko Plans $300 Million Bond Issue To Refinance SunEdison India Debt
November 25th, 2016 by Saurabh
Greenko Energy Holdings, an India-focused renewable energy IPP, is looking to raised funds to refinance debt associated with SunEdison India’s solar power projects.
SunEdison India sold off its 500 MW operational and 900 MW of under-development assets of Greenko Energy Holdings earlier this year. Greenko is reportedly planning to issue bonds to cover the debt for under-development projects. The company is also believed to be talking to banks to refinance the project debt.
Last month, the Solar Energy Corporation of India (SECI) received payment of $30 million as fees for the development of a 500 MW project. The project was secured by SunEdison India through competitive auction.
SunEdison had secured the project at a record-breaking tariff of ₹4.63 per kWh (US¢7.12/kWh) beating several leading project developers, including Trina Solar, SkyPower, ACME Solar, Aditya Birla, Azure Power, Welspun Energy, ReNew Power, and Suzlon Energy.