The International Finance Corporation of World Bank is proposing an additional US$50 million debt financing for the planned 300 MW solar photovoltaic project of Enel Green Power in India.
IFC has initially approved a US$100 million financing for the Thar Surya solar photovoltaic (PV) project in the state of Rajasthan through Thar Surya 1 Pvt Ltd, a special purpose vehicle launched by Enel Green Power India. The total investment in the project is estimated at US$200 million.
The Solar Energy Corporation of India (SECI) has awarded the project to Enel Green Power in July 2020 after a bid of INR2.37 (US$0.0314) per kWh for the entire generating capacity. Once operational, SECI will purchase the energy produced from the plant under a 25-year power purchase agreement with Enel.
