Treasury Management Internation Logo

Standard Chartered Named Sole Account Bank for CLP Wind Farm’s Common Cash Pool Arrangement


6 November 2013, Singapore – Standard Chartered is pleased to announce that it has been nominated as the Sole Account Bank for CLP Wind Farm (India) Pvt. Ltd.’s (“CLPWF”) Pooled Projects. CLPWF’s current wind power projects are funded by multiple lenders, and each power project has a different Account Bank. Under this arrangement, Standard Chartered will effectively pool the cash flows from CLPWF’s current and future wind farm projects and offer:

  • effective cash flow management though one bank
  • efficient monitoring of financial covenants under the pooling structure
  • potential for a higher credit rating for favorable funding opportunities
  • real-time visibility of the various accounts

The pool will initially comprise of four operational projects – with an aggregated output of 267.5 MW – that is financed by different banks, including Standard Chartered.

Rajiv Mishra, Managing Director, CLP India said, “We are delighted with Standard Chartered’s support. In addition to offering expertise as a clean energy financier for our wind farms, they have implemented a unique pooling structure for consolidating our cash flows in a manner that diversifies risk while offering greater visibility and control. We look forward to continuing our strategic collaboration with Standard Chartered.”

Commenting on the mandate, Ravi Suri, Head of Project and Export Finance, India, Africa, MENA and Europe, Standard Chartered said, “We are pleased that the bespoke solution, a first of its kind in India’s renewable energy sector, was able to support our  client’s growth agenda in India. We are committed to clean energy financing and are proud to have played a key role in financing over 500 MW of wind farms in India to date.The pooling of cash flows from different projects will be viewed very favourably not just by the existing lenders but by new lenders, domestic as well as international. The pooling would also confer on CLP Wind-farms Ltd, a quasi-corporate risk profile thereby giving it an access to diversified and cost competitive funding sources, in future.”

“This deal is an excellent demonstration of our client centric commitment,” added Dinesh Khanna, Regional Head of Transaction Banking, South Asia, Standard Chartered. “The effective management of cash flows is a common area of concern among our clients, and this structure is a great example of how we continuously build on our expertise and on-the-ground understanding of various markets to support our clients across Asia, Africa and the Middle East.” 

Most recent episodes

HSBC’s Sibos Spotlight: Investing in the Future – from Diversity to Green Deposits

In the final instalment of HSBC’s Sibos Spotlight, Eleanor Hill (TMI) invites Nadine Lagarmitte and Suraj Kalati (HSBC) to consider how corporates’ attitudes to...


HSBC’s Sibos Spotlight: The ESG Landscape – what every treasurer needs to know

In the third edition of HSBC’s Sibos Spotlight Podcast series, TMI’s Eleanor Hill invites Farnam Bidgoli (HSBC) to provide an in-depth overview of the current ESG...


The Path to Transformational Global Cash Visibility

Davina Bradley (CEVA Logistics) and Conor Deegan (CashAnalytics) join TMI’s Eleanor Hill to explore how treasurers can transform their cash visibility and forecasting within their business in a matter of weeks using a...


HSBC’s Sibos Spotlight: Embedding ESG in Trade and Supply Chains

In the second podcast from HSBC’s Sibos Spotlight series, TMI’s Eleanor Hill speaks to Surath Sengupta (HSBC) about embedding ESG into trade and supply chains....


Lost in Transaction: Overcoming Payments Pitfalls

From simple errors to duplicates, fraud and sanctions violations, there are a number of areas where payments can go wrong – especially in the real-time environment. In this podcast, TMI speaks to Andrew Ferrao...


HSBC's Sibos Spotlight: Central Bank Digital Currencies

The first edition of HSBC’s Sibos Spotlight series sees TMI’s Eleanor Hill joined by Mark Williamson and James Pomeroy (HSBC) to discuss the hot topic of Central Bank Digital Currencies (CBDCs). Our guests discuss...


Payments Vision 2025: The Inside Track

Wim Grosemans, Steven Lenaerts (BNP Paribas) and Wim Raymaekers (SWIFT) join TMI’s Eleanor Hill to outline their vision for the payments landscape in 2025. Our guests consider how recent developments such as instant...


Stepping Out from the Shadows

“Treasurers needs to step out of the shadows and into the sunshine in terms of their strategic contribution.” claims Zitah McMillan, Co-Founder and CEO, Predictive Black. In this podcast, hosted by TMI’s Eleanor Hill, our guest declares that the...


Why the ‘One Size Fits All’ Approach is Outdated - A Cash Segmentation Treasury Masterclass

With the ongoing low interest-rate environment and increasing regulatory change, it’s more important than ever for treasurers...


Instant Payments: Instant Rewards

TMI’s Eleanor Hill sits down in the virtual TreasuryCast studio with J.P. Morgan’s Global Head of Real-Time Payments, Cyrus Bhathawalla, to discuss how treasurers can capitalise on the evolving nature of real-time payments. Our guest contemplates the elements...