ADB and Engie Sign Rs 14.6 Billion Loan Agreement for 400 MW Solar Project


The Asian Development Bank (ADB) and the ENGIE group have signed a long-term local currency loan agreement to construct and operate a 400 MW solar photovoltaic power plant in Surendranagar, Gujarat.

ADB was the mandated lead arranger for the entire loan totaling Rs 14.6 billion with ADB and Asian Infrastructure Investment Bank both providing Rs 7.3 billion. The solar panels will be constructed using locally produced bifacial photovoltaic power modules. The plant will generate an average of 805 GWh annually over the next 25 years, avoiding nearly 662,441 tonnes of carbon dioxide emissions per year.

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