ADB lends $103m to partly finance new solar power plant in India

24 April 2012 08:39  [Source: ICIS news]

SINGAPORE (ICIS)--The Asian Development Bank (ADB) said on Tuesday it will lend $103m (€78.3m) to help Reliance Power build a 100 megawatt (MW) solar power plant in India’s Rajasthan state.

The plant, which will cost around $415m to build, will be located in the Jaisalmer district of Rajasthan and is expected to be completed in May 2013, the ADB said in a statement.

The project will share a transmission line with a nearby 40MW solar photovoltaic plant, it said.

India is targeting to have two gigawatts (GW) of installed solar power generation capacity by 2013. This capacity should grow to 10GW by 2017 and further to 20GW by 2022, based on the government’s target, according to ADB.

ADB aims to commission or support 3,000MW of solar power capacity in developing member countries by May 2013, the multilateral institution said.

($1 = €0.76)

By: Nurluqman Suratman

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