Greentech Lead India: The Asian Development Bank (ADB)
has agreed to lend a further $103 million to a solar power project owned by
Reliance Power in India.
The bank has approved a $48 million loan for Reliance’s
40 MW Dahanu photovoltaic project in December. That plant is being expanded to
include a 100 MW solar-thermal farm.
The solar-thermal plant is expected to be completed in
May 2013 and will cost about $415 million. It will be built adjacent to the
photovoltaic plant, and the two will share a transmission line, according to a
report in Bloomberg.
Recently, Reliance selected France’s Areva as its
contractor to build as much as 250 megawatts of solar- thermal capacity in
India. The U.S. Export-Import Bank said on April 13 that it will provide
Reliance with an $80.3 million loan to purchase technology from Areva’s U.S.
unit and other suppliers.
Reliance Power targets 300 MW solar capacity by 2015
Reliance Power will invest Rs 6,000 crore in solar power
industry and plans to raise its solar capacity to 300 MW by 2015. The Anil
Ambani group company will help light up over five lakh households in the
country.
As part of National Solar Mission, the company is
targeting to commission the 100 MW solar thermal plant at Dhursar by March
2013.
Reliance
Power recently commissioned a 40 MW photovoltaic plant at the same
location.
The company has invested Rs 3,000 crore for the project
with a loan from US Exim Bank-Asian Development Bank combine. This is the first
direct loan sanction by ADB to a private sector solar project in India.
ADB to offer $100 million credit line to ICICI Bank to fund
renewable energy projects
The Asian Development Bank will provide $100 million
credit line to ICICI Bank to fund renewable energy and energy efficiency
projects in India.
The credit will be available to projects identified by
the ADB and ICICI Bank.
editor@greentechlead.com