The Asian Development Bank (ADB) and ENGIE SA have signed a long-term local currency loan agreement to construct and operate a 400 MW PV power plant in Surendranagar District, Gujarat, India. ADB, as the mandated lead arranger, secured a total loan of INR 14.6 billion ($175.9 million), with ADB and the Asian Infrastructure Investment Bank each contributing INR 7.3 billion. The plant will use locally produced bifacial PV power modules, supporting local manufacturers. It is expected to generate 805 GWh annually for 25 years, avoiding 662,441 tons of CO2 emissions per year. Enren Energy Private Limited, owned by ENGIE, will implement the project, with Gujarat Urja Vikas Nigam Limited as the sole offtaker. ENGIE operates in 31 countries with a 1.1 GW portfolio in India.
ADB funds 400 MW solar project
The 400 MW project is ENGIE’s second ADB-financed in India and will use locally produced bifacial PV power modules. (Image Credit: Pexels)
Capri Global’s partnered with Credit Fair to ensure digital access to solar finance, helping homeowners and businesses adopt renewable energy. (Image Credit/Source: fietzfotos/Pixabay)
The IEA’s latest report reveals that module prices have halved since early 2023, as the market faces a surplus in solar manufacturing. (Image Credit/Source:Pixabay/Pexels)
SECI’s petition for tariff adoption under Section 63 of the Electricity Act, 2003 for a 900 MW hybrid project is now awaiting a CERC decision. (Image Credit/Source: Pixabay/Pexels )
The CFSE will include a 30,000-square-foot lab and solar tracker setups for real-time training. (Image Source: BUSINESS WIRE)