75 MW Solar PV Plant in Uttar Pradesh commences construction at site as Notice to Proceed is issued

London, Zurich, February 28, 2020. ThomasLloyd announced today that its’ investee company SolarArise India Projects Private Limited (“SolarArise”) has issued the first part of a Notice to Proceed (“NTP”) to Jakson Limited to commence the construction at its new 75 MW Solar PV Plant in Uttar Pradesh.

SolarArise has awarded the engineering, procurement and construction (“EPC”) contract to Jakson. The EPC contractor will initially finalise the design and layout of the switchyard at the project site and then mobilise manpower to commence construction activities. Current activities include soil testing, topography, transmission route survey and electrical resistivity testing.

For the 75 MW project, SolarArise has executed project debt financing documents with Power Finance Corporation Limited, a Government of India Undertaking and India’s largest power sector lender.

The Company has also signed the module supply contract with JA solar for the supply of mono PERC modules.

About SolarArise India Projects Private Limited

SolarArise is an Indian focused project developer which develops, owns and operates grid-connected solar PV projects in India. Other shareholders besides ThomasLloyd are the Global Efficiency and Renewable Energy Fund (GEEREF), advised by the European Investment Bank Group, the Core Infrastructure India Fund (CIIF), managed by Kotak Mahindra Bank, and the founding team. Further information can be found at: www.solararise.com

About ThomasLloyd Group

ThomasLloyd is a global investment and advisory firm dedicated to leading the necessary process for social and environmental change, focusing exclusively on the financing, construction and operation of sustainable projects in the infrastructure, agriculture and property sectors. The range of services comprises products and services through the entire value chain of these sectors. In addition to the structuring, placement and management of impact investing solutions, they include consulting and financing of projects and companies, as well as digital financial services, particularly in investment brokerage, investment advisory and asset management. Founded in 2003, ThomasLloyd is now one of the world’s leading impact investors and providers of climate financing. Headquartered in Zurich and with over 250 employees in 17 locations in North America, Europe and Asia, the company currently manages assets of over 3.5 billion Euros for more than 60,000 private and institutional investors. Further information can be found at: www.thomas-lloyd.com.

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