$100 million, ADB loan aid to private sector solar power projects in India

$100 million, ADB loan aid to private sector solar power projects in India

The Asian Development Bank (A.D.B.) has announced that it will support the commissioning of solar projects of up to 200 MW, either already awarded under the Jawaharlal Nehru National Solar Missions phase 2. or to be identified.

Jodhpur district of Rajasthan state is a home to the projects already awarded so far. In Jodhpur solar irradiance levels are the highest in the country.

ACME Solar Energy Private Ltd is estimated to reach more than 350 megawatts capacity of renewable energy. As its has a pipeline of solar projects.

These projects will use solar panels from A.D.B. approved suppliers. Generated power will be bought by the Solar Energy Corporation of India at a fixed tariff of Rs5.45, per Kw per hour for the next 25 years.

As far as India’s long term growth is concerned, it is very important to secure and diversify its Solar and other renewable power sources.

It is said that the A.D.B.’s support for ACME will invite more private sector investment, FDI in energy infrastructure.

India’s current installed solar capacity has reached 2,766 MW against the targeted installed generation capacity of 22,000MW by 2022 under the Jawaharlal Nehru National Solar Mission.

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