Alfanar achieved Financial Close for 300 MW Wind Project in India

Synergy Consulting announced in a statement that, Alfanar, a leading Saudi developer that is pursuing clean energy in Asia, Africa and Europe, achieved Financial Close for its 300 MW Wind Project in Kutch, 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 V). This is Alfanar’s second Project in India to have achieved Financial Close.

The long term senior debt facility of approximately INR 16.30 billion (~ USD 215 million) has been availed by Netra Wind Private Limited (NWPL), an Alfanar subsidiary.

L&T Finance Limited, leading non-banking financial companies from India, have provided debt funding for the transaction.

Synergy Consulting, Inc. acted as the Transaction Advisor to Alfanar for this prestigious Project, statement mentioned.