Being developed by ACME Solar Energy, the solar project is expected to cost approximatley INR8.08bn ($132.7m), Press Trust of India reports.
Earlier, IFC extended funding for ACME’s solar project in the state of Madhya Pradesh, India.
According to IFC: "The proposed IFC investment consists of an IFC ‘A’ Loan of up to Rs 2,019 million (approximately USD 34 million) and possible syndication of up to Rs 3,883 million (approximately USD 66 million)."
Acme Solar Energy Private’s five subsidiaries including Ranji Solar Energy, Acme Gurgaon Power, Acme Rajdhani Power, Acme Mumbai Power and Medha Energy will develop the 100MW project.
Proposed to be located around Bari Seer village in Jodhpur district, Rajasthan, the project is likley to be commissioned by April 2015.
