IFC proposes USD50 million debt finance for Thar Surya’s 300 MW solar power project

International Finance Corporation (IFC) has proposed $50 million debt finance for the construction of 300 MW solar power project under Thar Surya 1 Private Limited in Bikaner, Rajasthan.

Apart from lending $50 million, IFC will also mobilise USD100 million debt through parallel lenders. The total solar power project cost is estimated at USD200 million. The project is being sponsored by Enel Green Power India, a subsidiary of Enel Green Power S.P.A. The power generated from the plant will be sold to Solar Energy Corporation of India under a 25 years power purchase agreement.

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