PFAN SUPPORTS MAJOR SOLAR ENERGY PROJECTS IN ASIA
PFAN successfully collaborated with one of India’s premier solar power developers, Shri Shakti Alternative Energy Ltd (SSAEL), for a 100 MW solar park project in Rajasthan Province. SSAEL entered the PFAN program in 2013 through the annual business plan competition – The Asia Forum for Clean Energy Financing. As one of 75 companies in the AFCEF-3 competition, SSAEL quickly made a name for itself, impressing evaluators with its innovative approach and world-class team, eventually winning First Prize in the competition. While such competitions gives entrepreneurs an opportunity to hone their business plans through the engagement of highly-experienced PFAN mentors and investors, discussions with interested investors typically take place over a longer time horizon prior to investment. As the first prize winner of AFCEF-3, SSAEL continued to receive PFAN mentorship support after the competition, which, coupled together with PFAN’s continued engagement and broader recognition in the marketplace, enhanced SSAEL’s ability to secure a relationship with Tata Power Renewable Energy that mobilized up to $60 million of investment for a 50MW solar power project. Moving forward, PFAN will continue to serve an advisory role for SSAEL until the remainder of the Raj SPZ project is completed.