With Synergy Consulting as the Transaction Advisor, Saudi Arabia based Alfanar executes Financing Agreements on 29th September 2018 for 300 MW Wind Project in Gujarat, India.
Alfanar, a leading developer based in Saudi Arabia for clean energy in Asia, Africa and Europe, achieved financial close (as per the PPA) for 300 MW Wind Project in Bhuj, Gujarat, India. The project was awarded to Alfanar through competitive bid by Solar Energy Corporation of India Limited (SECI), a company under the Ministry of New and Renewable Energy, Government of India, (Tranche III).
The facility agreement was signed on 29th September by Alfanar Energy Private Limited (AEPL), an Alfanar subsidiary, for approximately INR 15 Billion (over USD 200 Million) with India’s leading Non-Banking Financial Company (NBFC), L&T Finance and L&T Infrastructure Finance.
The facility agreement was executed 3 months ahead of the schedule
, stipulated under the PPA.
Synergy is honored to be the Transaction Advisor to Alfanar. L&T Finance acted as the Financial Advisor and Trilegal acted as the Legal Counsel for Alfanar.