International Finance Corporation, a sister organisation of the World Bank, is looking to invest $43.3 million in Munjal family-promoted Hero Future Energies Global (HFE) through the debt-financing route. IFC indicated in a disclosure that the total estimated project cost is approximately $200 million, of which IFC will provide a debt-financing of $43.3 million along with mobilisation of senior loans on best effort basis.
HFE’s step-down subsidiary Clean Solar Power (CSP) has proposed the development, construction, operation and maintenance of a 250 MW solar farm located in Bhadla, Rajasthan. The solar farm will sell power to Solar Energy Corporation of India pursuant to a 25-year power purchase agreement, IFC stated in a disclosure.
