The Asian Infrastructure Investment Bank (AIIB) will invest Rs 7.3 billion to support India’s renewable energy ambitions through the ENGIE Solar Power Project.
The project will be co-financed with the Asian Development Bank for developing, building and operating a 400 MW solar phototvolatic plant in Gujarat. AIIB and ADB will finance up to Rs 14.6 billion equivalent in the form of a project finance senior debt facility in local currency.