ADB to fund Relaince power for solar PV power project

Asian Development Bank (ADB) will provide a long-term loan of upto $ 48 million to finance Reliance Power Limited's 40 MW solar photovoltaic power plant at Dahanu in Jaisalmer district of Rajasthan.

The project, which will be India's largest solar photovoltaic power plant, is expected to be completed by the second quarter of 2012.

The Export Import Bank of the United States is also providing funding for the project that is expected to cost around $ 147 million.

The project will support the Government of India’s push to promote environmentally sustainable energy growth while diversifying the country’s sources of energy. By supplying electricity from a clean and renewable source, India will avoid around 41,000 tons of carbon dioxide emissions a year had demand been met by conventional fossil fuel-based power plants