ADB funds 400 MW solar project

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.