A project that comprises the development, financing, construction, operation and maintenance of an approximately 19 MW portfolio of rooftop solar generation systems (each, an “Individual Project” or combined, the “Individual Projects”).
New Delhi, 22nd September 2015: SAM Consultant, the only Overseas Private Investment Corporation (OPIC) fund facilitator in India helped Azure Sunlight Pvt. Ltd., of India in borrowing $ 20 million for a project that comprises the development, financing, construction, operation and maintenance of an approximately 19 MW portfolio of rooftop solar generation systems (each, an "Individual Project" or combined, the "Individual Projects") located in various cities throughout India. Azure Sunlight will be the equity owner of this portfolio of rooftop solar systems and will utilize a $20 million loan facility from OPIC to provide the debt portion of financing for each Individual Project.
On the successful grant of $ 20 million loan to Azure Sunlight, Dr. Sharmistha Dey - CEO, SAM Consultant said, "We are dedicated to help Indian businesses with medium- to long-term funding through direct loans, equity funding, low-rate project funding, venture capital investments to eligible investment projects. SAM Consultant is working diligently to boost renewable energy projects in various parts of the world. We have bridged the gap between Azure Sunlight and OPIC, The Project will address Indias growing need for energy through a clean, renewable source and thus help reduce its reliance on coal-fired generation."
OPICs Loan Facility will be repaid from the aggregate cash flows from Individual Projects. The Azure Power India Private Limited, the parent company of Azure Sunlight, will act as turnkey construction contractor as well as operations and maintenance provider.
"The market potential for grid connected photovoltaic rooftop solar is estimated to be a minimum of 20 GW for the next 10 years. The Project will install an additional 19 MW of power capacity in a country that imports 5.6 billion kWh electricity per year. The Project has the potential to have strong demonstrated effects in the country, providing environmentally benign energy to a projected 100,000 customers", said Mr. Arjun Mehta, Director, Azure Sunlight.
"We are thankful to SAM Consultant for continuous support during the whole process," he further added.
About SAM Consultant
SAM is a US based AA+ rated finance company incepted by Dr. Sharmistha Dey, having its branch offices in New York, and Head Office in the Global Finance Capital, London, UK. Registered with the Government of United States of America and a registered associate of the Overseas Private Investment Corporation (OPIC) that works with SAM, one of the financial wizards of the USA to help solve critical development challenges and to increase understanding of development policies and programs, it also assists businesses to gain strong foothold in the ever-growing market by providing them financing, guarantees, risk insurance, and support for business in means of project funding and need analysis along with equity investment and seed funding. The company also shares the business of the most famous London based legal firm, Allen & Overy, who take care of all International matters, being not restricted to JV's & lending.
Being an organization registered with the EU Business Consulate, SAM works with the trustworthy and renowned global counter partners like Overseas Private International Corporation (OPIC), United Nation (UN), and International Venture Capital Association (IVC). SAM offers its services to several new and growing business enterprises of the industry in more than 186 nations all over the world. Emphasizing more on the empowerment of women and green house responsibility, the company has sustained more than $500 billion of investment in over 660 projects, generated an estimated $98 billion with job creation of more than 10000 people. Also, with their wide expertise in this area, SAM had lent a hand to more than 280 NGOs achieving their goals.