International Finance Corporation (IFC) will extend its support in the development of two solar parks located in the Indian states of Uttar Pradesh and Madhya Pradesh. IFC will help attract private investments for the project.
The solar park in Uttar Pradesh will have a capacity of 600 MW and will be developed by the JV of THDC India and the state-owned Uttar Pradesh New and Renewable Energy Development Agency. The 3,093-acre solar park will be developed in Jhansi. The government of India will provide 242 acres of land and 2,851 acres of land will be leased from farmers of Sujanpura, Jaswanpura, Jalalpura, Pura, and Kharora. This project is part 2GW Ultra Mega Renewable Energy Power Park scheme.
Apart from this project, IFC will also support a 750 MW solar park project spread across an area of 1,500 acres of land located in Rewa, Madhya Pradesh. The estimated investment value for this project is US$750 million. Department of Foreign Affairs and Trade, the Government of Australia will be partnering with IFC to attract foreign private investment in the solar park.
