OPIC provides financing for a 100 MW PV project in the Indian state of Telangana

ReNew Power Ventures reference PV plant in India
ReNew Power Ventures reference PV plant in India

The Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution, signed a commitment with ReNew Power Ventures Private Limited, (New Delhi, India) of approximately USD 74 million for a 100 MW solar photovoltaic (PV) project in the Indian state of Telangana.

Announced during the 22nd session of the United Nations Framework Convention on Climate Change Conference of Parties (COP22), this PV project will diversify the country’s power generation mix with a clean source of renewable power and help the country reduce GHG emissions.

 

USD 250 million facility to be used for the development, construction, and operation of solar projects

The Telangana solar PV project is the first project approved under the ReNew Master Financing Facility, a USD 250 million facility between OPIC and ReNew to be used for the development, construction, and operation of solar energy projects awarded under the Government of India’s Jawaharlal Nehru National Solar Mission.

Under the ReNew Master Financing Facility, up to 400 MW of new solar renewable power generation will be constructed in India across multiple projects. ReNew will be utilizing the innovative Master Financing Facility provided by OPIC to streamline the timeline for financing new renewable energy projects.

 

2016-11-15 | Courtesy: OPIC | solarserver.com © Heindl Server GmbH

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