CLP India has signed a new Pooled Financing Structure for its wind assets with the syndicate of three banks, Standard Chartered Bank, IDBI Bank & IDFC to mitigate risks and ensure security to lenders.
As per the company, the pooled financing will help secure CLP India's current and future assets and mitigate the inherent risk arising out of the unpredictable nature of wind projects' output.
This new, innovative approach to financing the wind projects will strengthen the competitiveness and business performance in the Indian market and will aid the growth the company has planned for the future,
The company was so far following the project financing structure of financing where the cash flow is restricted to a specific project only.
As said by the company, Wind projects will be moved to the pool as and when they get commissioned. The standardization of documentation as a result of this approach, will lead to quicker financial closures that will enhance overall efficiency and effectiveness of the financing process.
CLP India expects to add 250 MW - 300 MW of wind projects every year. CLP India, a wholly owned subsidiary of Hong Kong-listed CLP Group owns 3,000 MW power projects in the country.
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