From pv magazine India
Cleantech Solar, a pan-Asia supplier of renewable energy to corporates, has announced the financial close of a $102.5 million, long-term senior secured loan from Aseem Infrastructure Finance. It said it will use the funds to advance its open-access commercial and industrial (C&I) portfolio in India.
Cleantech Solar said it will deploy the rupee term loan (RTL) for construction, development and operations of its open-access solar and wind parks across multiple Indian states. Power from the renewable energy projects will be purchased by corporate clients on a captive basis for their business operations.
The projects will serve clients spanning several sectors, such as real estate, automotive, chemical manufacturing and iron and steel. Cleantech Solar now has a portfolio of 1.2 GWp.
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Singapore-based Cleantech Solar has numerous solar and wind hybrid projects across India and Southeast Asia, covering approximately 1.2 GWp of assets. This includes installations in India, Singapore, Cambodia, Indonesia, Malaysia, Thailand and Vietnam. Long-term strategic shareholders back the company: Keppel Ltd., Keppel Asia Infrastructure Fund, and Shell Singapore.
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