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$130mn raised for Hindustan Clean Energy by BofAML & Farallon Capital

Hindustan Power Projects Pvt. Ltd. branch for renewable energy, Hindustan Clean

Energy will be raising its fund up to $130 million. The support of this funding has to be

possible by Bank of America Merrill Lynch (BofAML) & Farallon Capital Management.

“Leaders of the company we in talk HPPPL since times & closed the deal past 3 months

ago. It was moreover discovering options to sell an even-handedness stake along with,”

said an anonymity who is not authorized to communicate with media.

One of the insiders also stated that “Mostly half of the funding will be invested towards

refinancing the existing loans over company & remaining will be utilized for developing

new projects”.

The speaker who represented HPPPL said that “The declare fund is for increasing

capital by expanding the capacity in the path of sustaining its existence in the field of

solar space.”

According to the analysis done by industrialist, PPAs (Power Purchase Agreements)

have already being signed for most of the projects which are at the commissioning

stage. The newer PPAs for the company has also being signed on special – traffic

model.

Farallon Capital Management is a San Francisco based company who is one of the

foreign investors in India at an early age. The company in its past have also invested in

Indiabulls Real Estate. Currently, $21.5 billion assets are under company management.

HCEL which came into existence in 2008 which aimed to develop & persuade in

renewable energy projects across India & other parts of the globe. 600MW solar

capacity has being spread over Punjab, Tamil Nadu, Gujarat, Uttar Pradesh & Assam.

The thermal power plant of 1200MW at Anuppur, Madhya Pradesh was recently being

commissioned by the company.

$130mn raised for Hindustan Clean Energy by BofAML & Farallon Capital
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